ISLAMABAD: Crude oil prices remained on the front foot on Thursday amid consistent supply concerns amid looming European ban on Russian oil, the world’s second-largest oil exporter. As of 1210 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained $0.69 (+0.61 percent) to reach $114.72 a barrel. The West Texas Intermediate (WTI), the main oil benchmark for North America, increased to $111.12 a barrel, up by $0.79 (+0.72 percent). The price for Opec basket was recorded at $114.96 a barrel against $115.95 a barrel a session earlier, showing a decrease of 0.85 percent. The OPEC Reference Basket of Crudes (ORB) is made up of Saharan Blend, Girassol, Djeno, Zafiro, Rabi Light, Iran Heavy, Basra Light, Kuwait Export, Es Sider, Bonny Light, Arab Light, Murban and Merey. TLTP
