Oman Oil Price Ups after Attacks on Saudi Energy Sites

The official selling price of Oman crude surged 11.5% on Tuesday to its highest level since April, as attacks on Saudi energy facilities and escalating tensions between the US and Iran heightened concerns over oil supply from the Middle East.

Oman crude for November delivery jumped US$11.99 to settle at US$116.53 per barrel, according to data from the Gulf Mercantile Exchange (GME). It was the strongest single-day increase in recent years and pushed the benchmark to its highest level since April 2026.

The sharp rise came as global oil prices also climbed on growing concerns over supply disruptions in the region, particularly amid slower oil shipping through the Strait of Hormuz and rising tensions between the US and Iran.

By 08:00 GMT on Tuesday, Brent crude had risen 2.06% to around US$99 per barrel, while US benchmark West Texas Intermediate (WTI) was trading at US$94.41, up 3.2%.

The latest gains in oil prices followed attacks on energy facilities in Saudi Arabia’s southern region bordering Yemen.

Saudi Arabia temporarily halted some operations at energy facilities in the area after the attacks on Tuesday morning, the official Saudi Press Agency reported.

“Several energy sector facilities and installations in the southern region of the Kingdom were targeted this morning,” the agency said, quoting an official source at the Ministry of Energy.

The attacks caused fires at several locations, resulting in a temporary halt to some operations, the report said.

The developments have added to concerns about the security of energy infrastructure and oil shipments in the Gulf at a time of heightened regional tensions.

The attacks also came after Iran warned that US oil and gas assets in the Gulf could be vulnerable to retaliation following exchanges of fire and strikes involving the US and Iran over the weekend.

Meanwhile, the monthly average price of Oman crude for September 2026 delivery stood at $76.36 per barrel, down $2.73 from the average delivery price for August, GME data showed.