Omani crude oil hits record highs, surging past $150 per barrel

Omani crude oil prices have continued their rapid climb, with the official price for May delivery reaching $152.58 per barrel, setting a new record, Oman News Agency reports.

The agency reported that this represents an increase of $4.79 from March 16, when the price stood at $147.79 per barrel.

By comparison, the average monthly price for Omani crude oil for March delivery was $62.17 per barrel, just 8 cents higher than the February delivery price, illustrating the sharp acceleration in oil costs over the past few months.

By Vafa Guliyeva