Crude oil prices remained on the front foot on Thursday amid consistent supply concerns amid looming European ban on Russian oil, the world’s second-largest oil exporter.
As of 1210 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained $0.69 (+0.61 percent) to reach $114.72 a barrel. The West Texas Intermediate (WTI), the main oil benchmark for North America, increased to $111.12 a barrel, up by $0.79 (+0.72 percent).
The price for Opec basket was recorded at $114.96 a barrel against $115.95 a barrel a session earlier, showing a decrease of 0.85 percent. —TLTP
