Page 28 - Policy Economic Report - October 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

NYMEX WTI front-month contract dropped by 49¢, m-o-m, to average $63.53/b. The GME Oman front-
month contract increased in September by 81¢, m-o-m, to settle at $70.04/b.

Brent crude ranged an average to $64.03 a barrel and WTI ranged to $60.26 per barrel in the month of
September 2025.

Figure 14: Benchmark price of Brent, WTI and Dubai crude

125
115
105

95
85
75
65
55
45
35
25

Brent Spot Price ($/bbl) WTI Spot Price ($/bbl) Dubai spot price ($/bbl)

Source - World Bank

? Brent crude price averaged $64.03 per bbl in October 2025, down by 4.9% on a month on month
(MoM) and by 14.7% on year on year (YoY) basis, respectively.

? WTI crude price averaged $60.26 per bbl in October 2025, down by 5.1% on a month on month
(MoM) and by 15.3% on year on year (YoY) basis, respectively.

? Dubai crude price averaged $63.17 per bbl in October 2025, down by 5.0% on a month on month
(MoM) and by 14.9% on year on year (YoY) basis, respectively.

Table 2: Crude oil price in October, 2025

Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 64.03
WTI 60.26 -4.9% -14.7%
Dubai 63.17 -5.1% -15.3%
Source - World Bank -5.0% -14.9%

October 2025 Page | 27