Muscat: Oil prices today rose about one percent at the start of trading. Brent crude futures climbed 72 cents, or 1.02 percent, reaching $71.30 a barrel, while West Texas Intermediate (WTI) crude futures also increased by 72 cents, or 1.1 percent, to $67.90 a barrel.
According to Oman News Agency, the recent uptick follows a slight rise in oil prices last week, marking an end to a three-week losing streak. This change comes amid concerns over a global economic slowdown attributed to escalating trade tensions involving the United States and other countries. The ongoing trade disputes have raised alarms about potential impacts on global economic growth, which in turn influence oil demand forecasts.
