Oman oil jumps, gold climbs as dollar steadies on extended US-Iran ceasefire

23/04/2026 02:44 AST

The official price of Oman crude oil for June delivery settled at $99.26 per barrel, while gold prices rose and the US dollar held steady in early Asian trading on Wednesday after US President Donald Trump announced an indefinite extension of the ceasefire with Iran.

The official price of Oman crude oil for June delivery settled on Wednesday at $99.26 per barrel.

The price of Oman oil recorded an increase of $7.25 on Wednesday compared to Tuesday's closing price of $92.01.

It is worth noting that the average monthly price of Omani crude oil for April delivery stood at $68.15 per barrel, marking a rise of $5.98 from the March delivery price.

Gold prices advance
In precious metals, gold prices advanced as easing oil-driven inflation concerns supported investor sentiment. Spot gold rose 0.9% to $4,755.11 per ounce, rebounding from its lowest level since mid-April, while US gold futures for June delivery gained 1.1% to $4,772.90.

Other metals also posted gains, with silver up 1.5%, platinum rising 1.5%, and palladium climbing 1.8%.

Meanwhile, the US dollar held firm in early Asian trading, buoyed by safe-haven demand. The dollar index, which tracks the greenback against six major currencies, stood at 98.415, its highest level in a week. The euro traded at $1.1739, while the Australian and New Zealand dollars hovered at $0.7152 and $0.5894, respectively.

Against the Japanese yen, the dollar edged down slightly to 159.26, following data showing Japan's exports grew for the seventh consecutive month.

US economic data added to market momentum, with retail sales surging 1.7% in March, exceeding expectations and driven largely by higher gasoline prices.

Times of Oman