ISLAMABAD: Crude oil prices remained volatile on Thursday, following their pullback from a weekly top the previous day amid mixed sentiment and the price-negative oil inventories. As of 1335 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $0.93 (-1.22 percent) to reach $75.48. Brent crossed the $77 mark a day earlier. The West Texas Intermediate (WTI), the main oil benchmark for North America, went down by $0.95 (-1.31 percent) to $71.61. WTI crossed the $74 mark a day earlier. Both contracts are likely to register weekly gains after going down for three previous weeks. The price of Russian Sokol increased by $0.38 (+0.56 percent) to $67.71. Similarly, Arab Light prices witnessed an increase of $0.33 (+0.42 percent) to reach $78.54 a barrel. The price for Opec Basket decreased by $0.23 (-0.3 percent) to $76.31. 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
