New Delhi, June 4 (IANS) Global crude oil prices declined more than 1 per cent on Thursday after Israel and Lebanon agreed to implement a ceasefire, raising hopes of a broader diplomatic breakthrough that could ease tensions surrounding the ongoing Iran conflict.International oil benchmark Brent crude fell 1.33 per cent to $96.50 per barrel. Similarly, US West Texas Intermediate (WTI) crude declined over 1 per cent to $94.76 per barrel.The decline in oil prices came after both benchmarks had gai…
Latest Abbas Araqchi News & Updates
New Delhi, May 16 (IANS) Global oil prices surged sharply this week, with benchmark crude contracts ending Friday’s session more than 3 per cent higher, after renewed tensions between the United States and Iran dampened hopes of a near-term breakthrough over the Strait of Hormuz — one of the world’s most critical oil shipping routes.Brent crude futures settled at $109.26 a barrel, gaining $3.54 or 3.35 per cent on Friday, while U.S. West Texas Intermediate (WTI) crude ended at $105.42 a bar…