logo
#

Latest news with #BasrahHeavy

Basrah crudes edge higher despite global oil decline
Basrah crudes edge higher despite global oil decline

Shafaq News

time21 hours ago

  • Business
  • Shafaq News

Basrah crudes edge higher despite global oil decline

Shafaq News – Basrah Basrah crude oil prices rose on Wednesday, defying a broader decline in global markets. Basrah Heavy gained $1.22 to reach $67.90 per barrel, while Basrah Medium matched the increase, climbing to $71. Globally, oil prices slipped after hitting a two-week high in the previous session, as investors reacted to developments surrounding new US tariffs. Brent crude dropped to $69.95 per barrel, and US West Texas Intermediate (WTI) settled at $68.12.

Basrah crude price rises despite global oil market decline
Basrah crude price rises despite global oil market decline

Shafaq News

time2 days ago

  • Business
  • Shafaq News

Basrah crude price rises despite global oil market decline

Shafaq News – Baghdad Basrah crude prices climbed on Tuesday, defying a broader downturn in global oil markets. Basrah Heavy rose by 57 cents to $66.68 per barrel, while Basrah Medium increased by the same margin to reach $69.78. Globally, oil prices dipped after posting nearly 2% gains in the previous session, as investors reassessed new developments related to US tariffs and a larger-than-expected increase in OPEC+ output for August. Brent crude stood at $69.37 per barrel, while US West Texas Intermediate (WTI) settled at $67.69.

Basrah crude posts weekly gains
Basrah crude posts weekly gains

Shafaq News

time5 days ago

  • Business
  • Shafaq News

Basrah crude posts weekly gains

Shafaq News - Baghdad/Erbil Iraq's Basrah crude ended the week with significant gains. Basrah Heavy closed Friday's trading session down 11 cents at $66.11 per barrel, registering a weekly gain of $0.48 or 0.73%. Similarly, Basrah Medium dropped by 11 cents to settle at $69.11 per barrel, marking a weekly increase of $0.58 or 0.85%. Globally, Brent and West Texas Intermediate (WTI) crude posted modest weekly gains, with Brent trading about 0.6% above last Friday's settlement, while WTI rose approximately 1.5%.

Basrah crude holds above $70 as Iran–Israel tensions keep oil markets on edge
Basrah crude holds above $70 as Iran–Israel tensions keep oil markets on edge

Shafaq News

time17-06-2025

  • Business
  • Shafaq News

Basrah crude holds above $70 as Iran–Israel tensions keep oil markets on edge

Shafaq News/ Iraq's Basrah crude oil prices posted a slight decline on Tuesday but remained above $70 per barrel, as ongoing military escalation between Iran and Israel kept global energy markets on high alert. Basrah Heavy fell by 3 cents, or 0.4%, to $70.40 per barrel, while Basrah Medium also slipped 3 cents, settling at $72.84. Meanwhile, global benchmarks moved higher. Brent crude rose to $74.40, and US West Texas Intermediate (WTI) climbed to $73.11 per barrel, driven by fears that the intensifying conflict could disrupt oil exports from Iran and trigger broader supply instability in the region.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store