Crude oil prices for two major benchmarks went down up to 2.77 percent for the fourth consecutive week after rallying for seven straight weeks in the international market.
According to details, Brent, the international benchmark for two-thirds of the world’s oil, shed 2.38 percent during the week to reach $69.88 from $71.59 a barrel. Similarly, the US West Texas Intermediate (WTI) reached $66.26 from $68.15, down by 2.77 percent during the week.
During the week, the price for Opec Basket decreased to $70.03 from $76.09 with a 7.96 percent decrease, Arab Light price decreased 10.92 percent from $82.94 to $80.38 a barrel, while the price of Russian Sokol went down by 11.29 percent to reach $72.10 from $81.28.— TLTP
