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Thursday, November 28, 2024

Home Business Crude prices go up over rising demand euphoria

Crude prices go up over rising demand euphoria

by News desk
July 10, 2021
in Business

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Islamabad

Oil prices rose on Friday over rising demand eupho-ria after US crude and gasoline oil inventories re-corded huge falls although the lack of consensus at the latest OPEC+ meeting is leaving oil markets without direction.

At 1130 GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained 0.86 percent to reach $74.76 a barrel. Similarly, the US West Texas Intermediate (WTI) reached $73.79, up 1.17 percent.

The price for Opec Basket was recorded at $73.58 a barrel with 3.11 percent decrease, Arab Light was available at $74.28 a barrel with 1.60 percent in-crease, while the price of Russian Sokol reached $73.32 after gaining 1.68 percent.—Agencies