OPEC basket gains, Brent drops to $58.61

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Crude oil prices varied sharply on Tuesday as Brent recorded a second drop in price for the week, while the commodity in the OPEC basket appreciated marginally.

Brent dropped to $58.61 per barrel, based on oil price update as at 2.20pm Eastern Daylight Time on Tuesday, shedding $0.64.

On Monday it lost $1.09 to close at $60.82 per barrel.

It was, however, observed on Tuesday that crude in the OPEC basket appreciated marginally, gaining $0.2 in price and closed at $62.51 per barrel.

OPEC basket crude had recorded a drop in price of $0.04 on Monday, to close at $62.31 per barrel.

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