By: Times News Service
Political tensions and global recovery are expected to boost oil prices. Photo: FIle
Muscat: The continuing rally in oil prices will help strengthen the economy of Oman with the prices now returning to where they were before the pandemic struck, and reaching their natural position, according to experts.
On Monday, Oman oil prices rose sharply by US$1.94 to reach US$68.35 compared to the price of last Friday, when it closed at US$66.41.
The average price of Oman Oil (March Delivery 2021) has now stabilised at US$54.78, this is US$4.79 per barrel higher than February Delivery 2021, Dubai Mercantile Exchange (DME) data reveals.