Saudi Stocks Trading
Oil prices declined today, Aug. 10, as investors awaited updates on whether a major pipeline from Russia to Europe would resume flows in the coming days.
International benchmark Brent crude was down 0.69% at $95.65 per barrel, at 9:07 am Makkah time.
West Texas Intermediate (WTI) fell 0.84% to $89.74 a barrel.
Russia's pipeline firm Transneft announced that Ukraine halted flows through the southern part of the Druzhba pipeline towards Hungary, the Czech Republic and Slovakia on Aug. 4, after sanctions prevented the payment of transit fees.
Meanwhile, the American Petroleum Institute estimates showed that crude inventories in the US increased by 2.2 million barrels last week.
The official data on stockpiles is due to be released later today.
Today, markets are also awaiting the release of US inflation data for the month of July. It was also announced that the Chinese CPI rose last month to its highest level in two years.
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