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Friday, November 15, 2024

Home Business Crude prices inch up ahead of Opec+ meeting

Crude prices inch up ahead of Opec+ meeting

by News desk
July 6, 2021
in Business

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Islamabad

Global prices for crude oil edged up on Monday before an Opec+ meeting and a pending decision over future production increases.

At 13:10 GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained 0.12 percent to reach $76.26 a barrel. Similarly, the US West Texas Intermediate (WTI) reached $75.30, up 0.19 percent.

The price for Opec Basket was recorded at $74.84 a barrel with 1.68 percent increase, Arab Light was available at $75.51 a barrel with 0.91 percent increase, while the price of Russian Sokol reached $75.28 after gaining 0.71 percent.Opec and its allies, led by Saudi Arabia and Russia, failed to reach consensus on Thursday. —TLTP