Muscat: Oil prices held on to most of the strong gains recorded in the previous session during early trading today. Brent crude futures rose by 6 cents, or 0.06%, to $95.04 a barrel. US West Texas Intermediate (WTI) crude futures fell by 17 cents, or 0.18%, to $91.99. Both benchmarks jumped by more than 5% in the previous session.

According to Oman News Agency, Brent crude ended last May down about 19%, while West Texas Intermediate fell around 17%, marking their largest monthly decline on record since March 2020. Despite this historical drop, the recent gains indicate potential stability in the oil market as traders assess supply and demand dynamics.