The official price of Oman oil for October 2022 delivery on the Dubai Mercantile Exchange (DME) reached US$97.21 per barrel today.

This comes following a US$1.37 per barrel increase in oil prices even as oil prices dipped marginally in other markets. On Wednesday, August 10, Omani crude traded for US$95.84 per barrel.

As per the DME, this has stabilised the monthly average of Omani crude for August 2022 delivery at US$112.93 per barrel, which is a US$5.71 per barrel increase compared with the delivery prices in July 2022.