Brent crude oil increased by 29 cents to settle at 94.86 dollars per barrel.


Moscow: Crude oil prices in the global market continued to rise, due to which the prices reached the highest level of the month.
According to the World News Agency, Brent crude oil increased by 29 cents to settle at 94.86 dollars per barrel. US West Texas Intermediate crude increased by 53 cents and settled at 91.00 dollars per barrel. While the price of Arab light crude oil reached 97.50 dollars per barrel.
It is pertinent to note that the price of Brent Futures, used for three-quarters of the world's oil prices, has increased by about 26 percent since Saudi Arabia announced an oil production cut in June.
On the other hand, the two biggest players in the global oil market, Saudi Arabia and Russia, have extended their production cuts until the end of the year, while Chinese refineries have increased production due to strong export margins.
News of OPEC member Libya closing four of its eastern oil export terminals due to a deadly storm also supported oil prices, experts stated.

PTI expels five lawmakers for defying party policy
- 2 hours ago

Indian drone strike kills 3 separatist leaders in Myanmar
- 2 hours ago

Emergency vaccination reduced deaths by nearly 60% during epidemics, study finds
- 5 hours ago

Sindh police give 10-day deadline to personnel to quit gutka, mawa use
- 5 hours ago

High risk near rivers as Tarbela spillways open today
- 6 hours ago
WhatsApp introduces new feature to show how many people are typing in group chats
- 5 hours ago
Karachi police bust betel nut smuggling hidden in cement sacks
- 3 hours ago
Frontier Constabulary to become countrywide force under new ordinance
- 3 hours ago
Iran confirms assassination attempt on President Pezeshkian amid Israeli airstrikes
- 7 hours ago
Rawalpindi to Multan bus meets accident; 5 in critical condition
- 8 hours ago
Kim Jong-un offers full support to Russia in Ukraine war
- 4 hours ago

Wildlife force deployed as no-bird zones enforced near Lahore airport
- 7 hours ago