Muscat: Oil prices rose by more than 1% in early Asian trading today, rebounding from the previous session's sharp losses. Brent crude futures gained 70 cents, or 1.2%, to $59.62 a barrel, while US West Texas Intermediate (WTI) crude futures climbed 73 cents, or 1.3%, to $56 a barrel.

According to Oman News Agency, oil prices had fallen to their lowest level since February 2021 at the close of trading on Tuesday.