ISLAMABAD
Oil prices went down on Tuesday amid concerns about China’s growth, higher US interest rates and the potential easing of the limited crude supply. As of 1145 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $0.45 (-0.53 percent) to reach $84.01 a barrel. The West Texas Intermediate (WTI), the main oil benchmark for North America, went down by $0.32 (-0.40 percent) to $80.40 a barrel. Similarly, the price of Russian Sokol decreased by $0.78 (-0.98 percent) to $78.97. Arab Light prices witnessed a decrease of $0.84 (-0.94 percent) to reach $88.44 a barrel. On the other hand, the price for Opec Basket decreased by $0.79 (-0.91 percent) to $86.17. 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.
