ISLAMABAD: Oil prices edged up on Friday to close the week on a positive note amid a weaker US dollar and supply concerns. As of 1330 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained $0.56 (+0.62 percent) to reach $90.48 a barrel. The West Texas Intermediate (WTI), the main oil benchmark for North America, went up by $0.44 (+0.51 percent) to $87.31 a barrel. However, the price of Russian Sokol decreased by $0.82 (-0.97 percent) to $83.54. Similarly, Arab Light prices witnessed a decrease of $0.79 (-0.84 percent) to reach $93.39 a barrel. On the other hand, the price for Opec Basket increased by $0.86 (+0.94 percent) to $92.30. 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
