Muscat – At the Dubai Mercantile Exchange (DME), Oman crude contract price (for May delivery) on Monday reached US$110.36 per barrel, comprising a rise by US$3.71 from the price of Friday, which was US$106.65 per barrel.

The average price of Oman oil (March Delivery) has stabilised at US$83.62 per barrel, thus US$10.48 per barrel higher than February Delivery 2022.

Meanwhile, Brent North Sea crude surged 6.1 per cent to US$114.55 per barrel with West Texas Intermediate (WTI) rising 5.5 per cent to US$110.48 on Monday.