Rising Prices Of Crude Oil
Faizan Hashmi Published July 22, 2016 | 04:25 PM
Singapore, (UrduPoint / Pakistan Point News – 22nd July, 2016) : Currently, a trend of rise in crude oil prices was observed in Asian oil market, value reached 47.37 Dollars a barrel. International benchmark Brent crude hovered near a two-month low at around $46 a barrel ahead of the data release before recovering to a little below $47.50.
This morning in London, it was down to around $47 a barrel, well below the $50 at which it spent much of the spring. According to the report of US Department of Energy on oil, a continuous decline was recorded in oil inventories in the ninth week and 2.3 million barrels decline was observed in crude oil’s stockpiles last week.