Brent leans towards $67 as crude prices edge up

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Islamabad

Crude oil prices edged up on Monday after going down in the early trading of the day.
At 1331 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, was trading at $66.92 a barrel after gaining 0.24 percent.

Likewise, the US West Texas Intermediate (WTI) crude futures gained 0.44 percent to reach $63.86 a barrel.

The price for Opec Basket was recorded at $65.71 a barrel with 1.83 percent increase, Arab Light was available at $67.25 a barrel with 2.55 percent increase while price of Russian Sokol increased 2.32 percent to reach $67.01 a barrel.

According to an oil expert, the technical picture continues to suggest that oil’s price recovery remains intact.

However, the worsening situation in India, the world’s third-largest oil consumer, also weighs heavily on the markets, he added.—Agencies