Muscat: Oil prices today climbed to their highest level in two weeks, driven by investor expectations of an imminent US interest rate cut that could support economic growth and boost global energy demand. Markets also remain on edge over geopolitical risks that threaten crude supplies from Russia and Venezuela. Brent crude futures edged up 4 cents, or 0.06%, to $63.79 per barrel, while US West Texas Intermediate (WTI) crude rose 7 cents, or 0.12%, to $60.15 per barrel. Both benchmarks settled on Friday at their strongest levels since 18 November 2025.

According to Oman News Agency, the potential US interest rate cut has fueled optimism among investors, who anticipate that such a move could stimulate economic activity and drive up the demand for oil. The geopolitical tensions involving major oil producers like Russia and Venezuela have further intensified concerns over supply disruptions, contributing to the upward movement in oil prices. The market’s focus remains on how these developments will unfold and impact the global energy landscape.