MUSCAT : Oil prices fell by more than 13%, marking one of the steepest single-day declines in recent months. The drop followed President Trump’s decision to delay military action against Iranian power plants and key energy facilities, a move that signalled a temporary de-escalation in geopolitical tensions in the Middle East.
Brent crude futures tumbled by approximately $17, or nearly 15%, reaching a session low of $96 per barrel by 1108 GMT. Meanwhile, U.S. West Texas Intermediate (WTI) crude declined by $13, or about 13.5%, touching a low of $85.28 per barrel during the same session.
For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
