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crude oil prices
crude oil prices
EconomyHeadlinesInternational

Once more, crude oil prices are fluctuating in the global market.

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Crude oil prices in the global market experienced a slight increase following a prolonged period of decline. As reported by international media, Brent crude futures saw a rise of 3 cents, reaching $81.71 per barrel, and US West Texas Intermediate (WTI) crude futures increased by 17 cents, or 0.2 percent, reaching $76.58 per barrel.

Experts attribute this upward trend to investor caution in anticipation of the OPEC meeting, coupled with supply disruptions caused by storms in the Black Sea, which contributed to the price boost.

It is noteworthy that, in addition to American and British crude oil, the cost of Russian crude oil is undergoing a reduction in the global market. According to global media, the price per barrel of Russian oil has fallen below $60, surpassing the specified limit of $60 per barrel set by the European Union.

According to reports, current crude oil prices are at their lowest in four months, suggesting a significant reduction in petroleum product prices in Pakistan starting from December 1. This reduction is expected to be implemented with Azam’s approval.

Read more about “The January is expected to experience a significant shortage of gas supply“.