Oman’s crude oil price has risen by $2.74 as international energy markets respond to growing concerns over Gulf supply disruptions.
The movement comes as Brent crude moved above $100 a barrel on Wednesday amid escalating attacks involving Iran, the Houthis and US forces.
Oman is particularly exposed to developments around the Strait of Hormuz because of its geographic position and its role in regional maritime trade.
Higher crude prices can support government revenues in oil-producing economies, but prolonged instability can also increase shipping and import costs.
The latest movement is therefore being watched closely by businesses and investors across Oman and the wider GCC.
