Crude prices inch up due to expected fall in inventories


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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