MUSCAT : The official price of Oman crude oil has crossed the $100 per barrel mark, reflecting a sharp rally in global energy markets amid rising geopolitical tensions in the Middle East.
According to figures released by the Oman News Agency, the official price of Oman crude for May delivery reached $100.31 per barrel, breaking the key $100 threshold.
The price represents an increase of $5.84 compared with the previous trading session, when Oman crude was priced at $94.47 per barrel.
The latest surge places Oman crude more than $40 above the benchmark price used in the country’s state budget, highlighting the strong momentum in global oil markets.
Data also shows that the monthly average price of Omani crude for March delivery stood at $62.17 per barrel, marking an increase of $0.08 compared with the February delivery price.
The rise reflects broader movements in global oil markets, where prices have been pushed higher by geopolitical tensions and concerns over potential supply disruptions.
International oil benchmarks such as Brent Crude have also risen as traders assess the impact of ongoing tensions in the region.
Energy markets remain particularly sensitive to developments around the Strait of Hormuz, one of the world’s most critical oil shipping routes through which a significant share of global crude exports passes.
For oil-exporting countries such as Oman, higher crude prices can strengthen state revenues, although analysts warn that prolonged geopolitical tensions could also increase volatility in global energy markets.
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