Both Brent, WTI cross $75 threshold for first time since 2018

14
Islamabad

Global prices for crude oil edged lower on Friday amid reports that OPEC+ is set to increase oil sup-ply by two million barrels per day (bpd) from Au-gust to December, with a monthly increase of below 500,000 bpd.

At 13:30 GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed 0.32 percent to reach $75.60 a barrel.

Similarly, the US West Texas Intermediate (WTI) reached $75.01, down 0.28 percent. Both benchmark crude futures crossed the $75 per barrel threshold for the first time since 2018.

The price for Opec Basket was recorded at $73.60 a barrel with 0.35 percent increase, Arab Light was available at $74.83 a barrel with 1.33 percent in-crease, while the price of Russian Sokol reached $74.75 after gaining 1.10 percent. —Agencies

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