ISLAMABAD: Crude oil prices fell on Wednesday after Russia announced that it does not seek to overthrow Ukraine’s government and prefers to resolve differences through discussions. The crude oil prices fell over three percent following Russia’s announcement after surging over 4 percent in the earlier trade. As of 1140 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $4.26 (-3.33 percent) to reach 123.72 a barrel. Brent hit the mark of $139.13 a barrel on Monday last. The West Texas Intermediate (WTI), the main oil benchmark for North America, slipped to $119.55 a barrel, down by $4.15 (-3.35 percent). The contract hit $130.50 a barrel on Monday last. The price for Opec Basket was recorded at $126.51 a barrel with an increase of 11.81 percent, Arab Light was available at $127.09 a barrel with an increase of 1.81 percent and the price of Russian Sokol slipped to $111.56 a barrel with 2.69 percent decrease. TLTP
