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Oman crude oil price reaches three-year high

Oman crude oil price reaches three-year high

Muscat: The price of Omani crude oil (futures) crossed $75 per barrel today, the Dubai Mercantile Exchange (DME) announced today.

According to DME, the price of oil for Oman’s July 2018 delivery rose by $1.61 in a single day to reach $75.41.

The surge in the price represents a three-year high, making this the first time that prices have crossed $75 since a glut in the global oil market that caused prices to crash several years ago.