Oil prices rose slightly on Thursday, finding some support after heavy losses in the previous two sessions that were driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. Brent crude was trading at $77.94 a barrel, up 25 cents, or 0.3% as of 0252 GMT. U.S. West Texas Intermediate crude added 12 cents or 0.2% to trade at $74.42.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Textile sector suffers $70m loss after power breakdown

The textile sector suffered a massive financial loss worth $70 million after…

Founder of Akhuwat foundation receives Ramon Magsaysay

Pakistani philanthropist and founder of Akhuwat Foundation has received the Ramon Magsaysay…

CPPA moves NEPRA for power tariff reduction

Islamabad: The National Electric Power Regulatory Authority (NEPRA) is likely to reduce…

SBP likely to raise interest rate to unlock IMF loan programme

State Bank of Pakistan (SBP) is likely to raise the interest rate…