Oman crude oil touches $90 with the end of the temporary peace agreement
Source: Oman Observer — Business
The story in brief
Muscat: Oman crude traded at US$90.16 on Tuesday for September delivery, US$2.40 higher than Monday's closing price of US$87.76, as oil prices rose on Tuesday with expectations... This reflected an increase of 2.4 percent over the approved revenues for 2025.Iran will shift to a "fully offensive"military posture as efforts have stalled towards a permanent end to the war, a senior Iranian official told Reuters on Monday, as Washington ruled out extending their temporary ceasefire pact.Brent crude futures climbed 62 cents, or 0.7%, to $91.49 a barrel by 0408 GMT, after rising on Monday to their highest since July 30.U.S.
Detailed summary
Muscat: Oman crude traded at US$90.16 on Tuesday for September delivery, US$2.40 higher than Monday's closing price of US$87.76, as oil prices rose on Tuesday with expectations... Muscat: The Oman Crude traded for $90.16 on Tuesday for the September delivery, an increase of $2.40 from Monday's closing price of $87.76 as oil prices rose on Tuesday as prospects receded for a deal to end the Middle East war, with Iran saying it would adopt a more offensive stance and the United States ruling out extension of a ceasefire deal, heightening worries about energy supply.The average monthly price of Oman Crude for September 2026 delivery has been $76.3.The total estimated revenues for the Sultanate of Oman's General State Budget for 2026, calculated based on an average oil price of $60 Dollars per barrel, amounted to approximately RO 11.447 billion. This reflected an increase of 2.4 percent over the approved revenues for 2025.Iran will shift to a "fully offensive"military posture as efforts have stalled towards a permanent end to the war, a senior Iranian official told Reuters on Monday, as Washington ruled out extending their temporary ceasefire pact.Brent crude futures climbed 62 cents, or 0.7%, to $91.49 a barrel by 0408 GMT, after rising on Monday to their highest since July 30.U.S.
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
- Muscat: Oman crude traded at US$90.16 on Tuesday for September delivery, US$2.40 higher than Monday's closing price of US$87.76, as oil prices rose on Tuesday with expectations...
- This reflected an increase of 2.4 percent over the approved revenues for 2025.Iran will shift to a "fully offensive"military posture as efforts have stalled towards a permanent end to the war, a senior Iranian official told Reuters on Monday, as Washington ruled out extending their temporary ceasefire pact.Brent crude futures climbed 62 cents, or 0.7%, to $91.49 a barrel by 0408 GMT, after rising on Monday to their highest since July 30.U.S.
- Muscat: Oman crude traded at US$90.16 on Tuesday for September delivery, US$2.40 higher than Monday's closing price of US$87.76, as oil prices rose on Tuesday with expectations...
- Muscat: The Oman Crude traded for $90.16 on Tuesday for the September delivery, an increase of $2.40 from Monday's closing price of $87.76 as oil prices rose on Tuesday as prospects receded for a deal to end the Middle East war, with Iran saying it would adopt a more offensive stance and the United States ruling out extension of a ceasefire deal, heightening worries about energy supply.The average monthly price of Oman Crude for September 2026 delivery has been $76.3.The total estimated revenues for the Sultanate of Oman's General State Budget for 2026, calculated based on an average oil price of $60 Dollars per barrel, amounted to approximately RO 11.447 billion.
- This reflected an increase of 2.4 percent over the approved revenues for 2025.Iran will shift to a "fully offensive"military posture as efforts have stalled towards a permanent end to the war, a senior Iranian official told Reuters on Monday, as Washington ruled out extending their temporary ceasefire pact.Brent crude futures climbed 62 cents, or 0.7%, to $91.49 a barrel by 0408 GMT, after rising on Monday to their highest since July 30.U.S.
Key points
- Muscat: Oman crude traded at US$90.16 on Tuesday for September delivery, US$2.40 higher than Monday's closing price of US$87.76, as oil prices rose on Tuesday with expectations...
- This reflected an increase of 2.4 percent over the approved revenues for 2025.Iran will shift to a "fully offensive"military posture as efforts have stalled towards a permanent end to the war, a senior Iranian official told Reuters on Monday, as Washington ruled out extending their temporary ceasefire pact.Brent crude futures climbed 62 cents, or 0.7%, to $91.49 a barrel by 0408 GMT, after rising on Monday to their highest since July 30.U.S.
- Muscat: The Oman Crude traded for $90.16 on Tuesday for the September delivery, an increase of $2.40 from Monday's closing price of $87.76 as oil prices rose on Tuesday as prospects receded for a deal to end the Middle East war, with Iran saying it would adopt a more offensive stance and the United States ruling out extension of a ceasefire deal, heightening worries about energy supply.The average monthly price of Oman Crude for September 2026 delivery has been $76.3.The total estimated revenues for the Sultanate of Oman's General State Budget for 2026, calculated based on an average oil price of $60 Dollars per barrel, amounted to approximately RO 11.447 billion.
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.
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