Muscat: Oil prices continued their upward trajectory today, as concerns over prolonged supply disruptions in the Middle East intensified amid ongoing exchanges of attacks between the United States and Iran. Brent crude futures rose 52 cents, or 0.54 percent, to $96.80 per barrel, while US West Texas Intermediate crude gained 66 cents, or 0.72 percent, to $92.14 per barrel.

According to Oman News Agency, Brent surged 7.8 percent last week, while WTI climbed about 10 percent, after the US and Iran resumed their attacks, leading to a decline in oil flows. Marine intelligence firm Marisks reported that commercial tankers are increasingly being used deliberately as instruments of mutual economic pressure, significantly eroding the previous distinction between military confrontation and commercial shipping.

Meanwhile, the OPEC+ alliance decided on Sunday to keep its oil production policy unchanged for October 2026, as the group works towards agreeing on new quotas before determining its next steps on output.