Oil prices edge lower as Oman confirms normal operations
Brent crude futures fell to $94.53 a barrel on Friday after Oman clarified that loading operations at its main export terminal were proceeding normally despite earlier reports of an explosion. Both global benchmarks remain on track for their first weekly gains in three weeks amid Middle East tensions.
Brent Crude Oil fell 50 cents to $94.53 a barrel on June 5 after Oman confirmed port operations are normal. Both global benchmarks are tracking toward their first weekly gains in three weeks despite the morning retreat. Market volatility persists as investors balance Middle East supply risks against weakening demand in China.
### Mina al Fahal Operations Stabilize Prices Petroleum Development Oman said on Friday morning that operations at the Mina al Fahal port are proceeding normally. The statement followed earlier reports that an explosion near mooring berths had suspended oil loadings at the terminal. Mina al Fahal is a critical export hub, moving between 800,000 and 900,000 barrels of crude per day.
