Crude prices inch up on supply concerns

20
Islamabad

Crude oil futures inched up on Tuesday amid con-cerns that global oil markets will remain in deficit despite a decision by the OPEC+ to raise production through the rest of the year.

At 1400 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained $0.14 (+0.19 percent) to reach $74.60 a barrel. Similarly, the US West Texas Intermediate (WTI) reached $71.92, up by $0.01 (+0.01 percent).

The price for Opec Basket was recorded at $73.03 a barrel with 4.43 percent increase, Arab Light was available at $75.13 a barrel with 1.73 percent in-crease, while the price of Russian Sokol reached $74.58 after gaining 1.75 percent.nd is holding up. —TLTP

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