CommoditiesMedium•10 November 2026•
1 min read
Oman Crude Drops Below $90 as Geopolitical Tensions Ease
Key Facts
1Oman crude prices fell below $90 per barrel for the first time since August.
2US President Donald Trump suggested further military strikes on Iran are highly unlikely if nuclear progress is made.
3Prices are pressured by global supply exceeding consumption due to recovering Middle East output and weak demand.
Oman crude prices fell below the $90 per barrel threshold for the first time since August. The Oman Observer reported that the decline followed suggestions by US President Donald Trump that further military strikes on Iran are highly unlikely if nuclear progress is achieved.
Prices are currently pressured by a global supply surplus and weak demand as Middle East production recovers. According to reports, global supply is exceeding consumption levels, leading to a significant break in the psychological price level maintained over the previous months.