Oman oil price rises to $111 per barrel as Middle East supply concerns persist

Muscat: The official price of Oman crude oil for November delivery rose by $5.02 to reach $111 per barrel on Thursday.

It is worth noting that the monthly average price of Oman crude oil for October delivery stood at $87.84 per barrel, up by $11.48 compared with the September delivery price.

World oil prices rise 
Meanwhile, oil prices rose today as concerns over supplies from the key Middle East producing region persisted amid increased attacks on shipping in the Gulf ‌and the Strait of Hormuz.

Brent crude futures rose $1.33, or 1.33%, at $101.53 a barrel by 0116 GMT. ‌US West Texas Intermediate (WTI) crude futures gained $1.11, or 1.26%, to $89.39.