Crude prices inch up due to expected fall in inventories

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Islamabad

Oil prices increased on Tuesday due to an expected fall in US inventories.At 1415 GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained 0.31 percent to reach $75.39 a barrel. Similarly, the US West Texas Intermediate (WTI) reached $74.12, up 0.03 percent.

The price for Opec Basket was recorded at $74.18 a barrel with 3.07 percent decrease, Arab Light was available at $75.70 a barrel with 0.38 percent increase, while the price of Russian Sokol reached $74.68 after gaining 0.44 percent.

The US crude stocks are expected to decline for the eighth consecutive week.—TLTP

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