Oman oil price jumps by $8.13 to $89.12 per barrel
Source: Times of Oman
The story in brief
Oman oil price jumps by $8.13 to $89.12 per barrel Business Tuesday 11/August/2026 15:17 PM By: Times News Service Muscat: Oil prices extended a strong rally with the official price of Oman crude for October delivery settling $8.13 higher at $89.12 per barrel on Tuesday compared to the price of on Monday which stood at $80.99 per barrel. It is worth noting that the monthly average price of Oman crude oil for August delivery stood at $79.09 per barrel, declining by $22.91 from the July delivery price. Analyst says this may be due to uncertainty over when the Strait of Hormuz may reopen and getting the global flow of crude going again.
Detailed summary
Oman oil price jumps by $8.13 to $89.12 per barrel
Business
Tuesday 11/August/2026 15:17 PM
By: Times News Service
Muscat: Oil prices extended a strong rally with the official price of Oman crude for October delivery settling $8.13 higher at $89.12 per barrel on Tuesday compared to the price of on Monday which stood at $80.99 per barrel. It is worth noting that the monthly average price of Oman crude oil for August delivery stood at $79.09 per barrel, declining by $22.91 from the July delivery price.
Analyst says this may be due to uncertainty over when the Strait of Hormuz may reopen and getting the global flow of crude going again. Also, oil prices rose after US President Donald Trump scoffed at demands from Iran that the US pay for devastation caused by five months of war as one condition for reopening the strait. Asian trade
Meanwhile in Singapore, oil prices held steady at their highest levels in more than a week on Tuesday, amid fading hopes of a deal between the US and Iran to end their war and reopen the Strait of Hormuz. Brent crude futures settled at $87.81 a barrel, while US West Texas Intermediate (WTI) crude futures settled at $82.20 a barrel. Both benchmarks rose more than 5% on Monday to their highest levels since 31 July.
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Background & context
This story sits within Oman's broader reform agenda and efforts to grow Oil & Gas as a pillar of non-oil GDP. The region benefits from supportive energy prices, expansionary government budgets, and rising interest from sovereign wealth funds and foreign investors.
Key numbers & facts
- Oman oil price jumps by $8.13 to $89.12 per barrel Business Tuesday 11/August/2026 15:17 PM By: Times News Service Muscat: Oil prices extended a strong rally with the official price of Oman crude for October delivery settling $8.13 higher at $89.12 per barrel on Tuesday compared to the price of on Monday which stood at $80.99 per barrel.
- It is worth noting that the monthly average price of Oman crude oil for August delivery stood at $79.09 per barrel, declining by $22.91 from the July delivery price.
- Oman oil price jumps by $8.13 to $89.12 per barrel Business Tuesday 11/August/2026 15:17 PM By: Times News Service Muscat: Oil prices extended a strong rally with the official price of Oman crude for October delivery settling $8.13 higher at $89.12 per barrel on Tuesday compared to the price of on Monday which stood at $80.99 per barrel.
- It is worth noting that the monthly average price of Oman crude oil for August delivery stood at $79.09 per barrel, declining by $22.91 from the July delivery price.
- Brent crude futures settled at $87.81 a barrel, while US West Texas Intermediate (WTI) crude futures settled at $82.20 a barrel.
Key points
- Oman oil price jumps by $8.13 to $89.12 per barrel Business Tuesday 11/August/2026 15:17 PM By: Times News Service Muscat: Oil prices extended a strong rally with the official price of Oman crude for October delivery settling $8.13 higher at $89.12 per barrel on Tuesday compared to the price of on Monday which stood at $80.99 per barrel.
- It is worth noting that the monthly average price of Oman crude oil for August delivery stood at $79.09 per barrel, declining by $22.91 from the July delivery price.
- Analyst says this may be due to uncertainty over when the Strait of Hormuz may reopen and getting the global flow of crude going again.
Why this matters
This matters because activity in Oil & Gas shapes capital flows, hiring and investor sentiment across Oman.
Economic & market impact
Potential impact: - Oil & gas majors and oilfield services may react to volume, price or policy signals.
GCC angle
For the rest of the GCC, this is a signal on the pace of activity in Oil & Gas. Capital flows and regulatory decisions in one Gulf state typically travel across borders given the similar economic structures and the coordination inside the GCC framework.
Risks & uncertainty
There is uncertainty around the read-through: projections can be moved by swings in oil prices, by US monetary policy tightening that most GCC central banks track via dollar pegs, and by regional geopolitical events. Headline numbers may also be revised when subsequent official data is published.
What happens next?
Watch for upcoming disclosures from listed names in Oil & Gas, official macro releases for Oman, and any commentary from regulators or sovereign wealth funds. Tharwa will refresh this briefing as new public information becomes available.
Sources used
This is an original Tharwa briefing based on the available source material. Read the full article from the publisher.