Omani Crude at $76.11

On Wednesday, April 2, 2025, the official price of Omani crude for June delivery rose to $76.11 per barrel, up 11 cents from the previous day. Global oil markets remained relatively stable after Tuesday’s dip, driven by concerns over upcoming US tariff announcements and their potential impact on global crude demand. Meanwhile, new API data revealed that US crude inventories rose by 6 million barrels.

Omani Crude Update

The official price of Omani crude for June 2025 delivery rose by 11 cents, reaching $76.11 per barrel.
In comparison, the monthly average for Omani crude in April was $77.63, marking a drop of $2.63 from the March average.

🌍 Global Oil Markets

• Brent crude held steady at $74.49 per barrel
• WTI crude rose by 3 cents to $71.23 after a 0.4% drop on Tuesday

Fears of a broader trade war due to potential US tariffs have weighed on global demand forecasts and kept trading volumes light.

📊 US Inventory Highlights (API)

• Crude oil: +6 million barrels
• Gasoline: -1.6 million barrels
• Distillates (including diesel and jet fuel): -11,000 barrels

These figures suggest a mixed outlook for supply and demand in the world’s top oil producer and consumer.