OPEC oil prices continue rising

By  Trend

The price of OPEC basket of fourteen crudes continues rising and stood at $48.51 a barrel on July 26, compared with $47.11 the previous day, the cartel said in a message.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Meanwhile oil prices are decreasing on July 27. The price for September futures of Brent oil decreased by 0.1 percent to $50.92 per barrel as of 3:42 a.m. EDT (UTC-4). The price for September futures of West Texas Intermediate (WTI) fell by 0.06 percent and stood at $48.72 per barrel as of 3:43 a.m. EDT (UTC-4).