Oil prices climbed today, paring some of the previous session, as concerns about US crude supply disruption outweighed worries about global demand. Brent crude futures climbed 34 cents, or 0.5%, to $69.53 a barrel, while US crude futures were at $66.10 a barrel, up 35 cents, or 0.5%. Both crude prices fell by about $3 yesterday (Tuesday), with Brent hitting its lowest level since December 2021, and WTI hitting its lowest since May 2023, after OPEC+ revised down its demand forecast for this year and 2025. Market sources quoted data from the American Petroleum Institute (API) yesterday (Tuesday), that oil inventories in the United States fell by 2.793 million barrels in the week ending 6 September 2024, while gasoline inventories fell by 513 thousand barrels. Source: Oman News Agency
Related Articles
Euro-Med Monitor: Israel Waging Relentless War of Starvation on Gaza
Gaza: A new Integrated Food Security Phase Classification (IPC) report has issued a grave warning that the entire population of the Gaza Strip faces the imminent threat of famine due to Israel’s ongoing suffocating siege, Euro-Med Human Rights Monitor…
Sultan Haitham Sends Greetings to Kenyan President on Independence Anniversary
MUSCAT: His Majesty Sultan Haitham bin Tarik has conveyed a message of congratulations to President Dr. William Ruto of Kenya in honor of the nation’s Independence Anniversary. The Sultan extended his best wishes for the success of President Ruto in h…
Occupancy Rates Surge in A’Dhahirah Governorate’s Hotels During Summer Months
Muscat: The Wilayat of Ibri in A’Dhahirah Governorate has witnessed a notable rise in tourist and commercial activity during the months of July and August. Serving as a crucial transit and rest stop for travelers from GCC countries en route to Dhofar …