Oil prices jump as hopes for Hormuz deal fade
Muscat: Oil prices extended a strong rally Tuesday as hopes for a reopening of the Strait of Hormuz fade, fanning fresh inflation fears and ramping up bets on at least one US interest rate hike this year. In the line with the global trend on oil prices, Oman crude increased by $8.13 to close at $89.12 on Tuesday for the October 2026 delivery. Crude has surged more than 10 percent over the past week, with the United States and Iran appearing no closer to a deal on the crucial waterway despite...
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The war involving Iran, launched by the United States and Israel, is approaching its sixth month. Missile and drone attacks on civilian areas have eased from their peak, but the war of rhetoric and the blockade of a vital cargo waterway continue unabated. The most significant consequence has been the effective closure of the Strait of Hormuz, one of the world’s busiest routes for shipments of crude oil, fertilisers, chemicals, and other essential goods. Even in the Sultanate of Oman, prices...
In a land far away in the Middle East, Blessed with splendor, Heritage is well reserved, This land holds stories of long reigns. The country that stretches across a huge region, The centre of delicious kawa, and sweet dates at its best, The vista of the ocean and sky meeting the horizon is truly breathtaking. The vast desert...
Every year, in late June, by the time the Khareef starts to extend its green blanket and diffuse its earthy mist into Dhofar, the region's frankincense season is technically already over for the year. The scene of the harvester slicing a tree's bark with a curved blade has vanished as the monsoon arrives to cover the sky with rainy...
