Crude oil futures edged up on Tuesday due to favourable Chinese import data and forecast of growth in oil demand by OPEC in its monthly report.
At 1520 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, was trading at $63.85 a barrel after gaining 0.90 percent. Likewise, the US West Texas Intermediate (WTI) crude futures gained 0.89 percent to reach $60.23 a barrel.
The price for Opec Basket was recorded at $61.46 a barrel with 0.52 percent increase, Arab Light was available at $62.98 a barrel with 1.47 percent increase while price of Russian Sokol increased 1.53 percent to reach $62.48 a barrel.
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