Muscat: Oil prices rose today from their lowest levels in two months, after US President Donald Trump announced a reversal of Chevron’s license to operate in Venezuela, which could lead to a decrease in global supplies of crude. Brent crude futures rose 19 cents, or 0.3 percent, to $72.72 a barrel, while US West Texas Intermediate (WTI) crude futures rose 16 cents, or 0.2 percent, at $68.78 a barrel.

According to Oman News Agency, oil prices fell in yesterday’s session to their lowest levels since 10 December 2024, affected by a surprise increase in US fuel inventories and hopes for a potential peace deal between Russia and Ukraine.