Oil prices take a breather after big rally

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Crude oil prices took a breather on Thursday after a two-day uptrend, reaching the highest level since early November.

As of 1310 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $0.17 (-0.20 percent) to reach $84.50 a barrel, its highest settlement since early Nov. On the other hand, the US West Texas Intermediate price reached $82.29 a barrel, down by $0.35 (-0.42 percent), which has been its highest price since mid-Nov.

The price for Opec Basket was recorded at $82.13 a barrel with a gain of 0.46 percent, Arab Light was available at $83.98 a barrel with an increase of 1.06 percent and the price of Russian Sokol jumped to $86.33 a barrel with an increase of 0.96 percent.—TLTP

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