ISLAMABAD: Oil futures prices edged up on Wednesday supported by a US cold snap that shut wells in the oil-producing state of Texas. The global roll-out of coronavirus vaccinations, fuelling expectations of a recovery in the global economy and oil demand, has also kept prices buoyant. At 1550 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, was trading at $63.73 a barrel after gaining 0.60 percent. The US West Texas Intermediate (WTI) crude futures gained 0.35 percent to $60.26 a barrel. The price for Opec Basket was recorded at $60.60 a barrel with 3.01 percent increase, Arab Light was available at $63.23 a barrel after an increase of 0.17 percent while price of Russian Urals remained unchanged at $42.22 a barrel. TLTP
