Oil prices rose today:il prices rose today, extending the previous day's rally, driven by optimism over US fuel demand following an unexpected drop in crude and gasoline inventories, while reports that OPEC+ may delay a planned output increase offered support. Brent crude futures gained 35 cents, or 0.5%, to $72.90 a barrel. US West Texas Intermediate crude futures climbed 32 cents, or 0.5%. According to Oman News Agency, Both contracts rose more than 2% yesterday (Wednesday), after falling more than 6% earlier in the week on the reduced risk of wider Middle East war. The market's recovery reflects traders' confidence in the stability of US fuel consumption and the potential influence of OPEC+'s production decisions on global oil supply.
Related Articles
Industrial Sector in Oman Witnesses Accelerated Growth, High-Value Investments
Muscat: The industrial sector in the Sultanate of Oman is undergoing a qualitative transformation, shifting from quantitative expansion in facilities and production to the development of an industrial base more closely integrated with modern technolog…
Commerce Ministry Marks World Accreditation Day with Focus on Innovation and Trust
Muscat: The Ministry of Commerce, Industry and Investment Promotion, represented by the Omani Accreditation Center (OMAC), celebrated World Accreditation Day 2026 under the theme “Innovation, Trust, and Sustainability: The Power of Accreditation,” wit…
OCCI Chairs Meeting of GCC Federation of Chambers Committee
Muscat: Oman Chamber of Commerce and Industry (OCCI) today hosted the 59th meeting of the GCC Federation of Chambers’ Executive Leaderships Committee. Held in Muscat, the meeting discussed digital initiatives and the annual report of the final account…