Crude oil price gain over 1pc amid supply concerns


Crude oil prices jumped over one percent on Tuesday amid supply concerns as well as weaker US dollar.

As of 1340 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained $0.87 (+1.08 percent) to reach $81.74 a barrel. On the other hand, the US West Texas Intermediate (WTI) price reached $79.13 a barrel, up by $0.90 (+1.15 percent).

The price for Opec Basket was recorded at $82.14 a barrel with a gain of 1.66 percent, Arab Light was available at $81.02 a barrel with a decrease of 1.52 percent and the price of Russian Sokol slipped to $82.14 a barrel with a decrease of 1.46 percent.—TLTP

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