ISLAMABAD: Crude oil prices lost traction and came down one percent on Wednesday a day ahead of Thanksgiving holidays in the United States, besides a sharp build-up in US crude stocks. As of 1130 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $0.83 (-1.01 percent) to reach $81.62 a barrel. The West Texas Intermediate (WTI), the main oil benchmark for North America, went down by $0.82 (-1.05 percent) to $76.95 a barrel. However, the price of Russian Sokol increased by $0.46 (+0.60 percent) to $77.03. Arab Light prices witnessed an increase of $0.46 (+0.53 percent) to reach $86.92 a barrel. On the other hand, the price for Opec Basket increased to $84.44 a barrel with an increase of $3.36 (+4.14 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
