Latest news with #BasrahHeavy
Shafaq News
15 hours ago
- Business
- Shafaq News
Basrah crudes ends week higher despite Friday dip
Shafaq News – Basrah Iraq's Basrah crude grades posted weekly gains despite slipping in the final trading session on Friday, buoyed by a broader rise in global oil prices. Basrah Heavy crude fell $1.29 to close at $67.29 per barrel but ended the week up $1.18, or 1.78%. Basra Medium also declined $1.29 in its last session, settling at $69.11 per barrel, yet gained $1.28 over the week—an increase of 1.85%. Globally, Brent crude rose 2.5% over the week, while West Texas Intermediate (WTI) was on track for a 1.6% weekly gain.
Shafaq News
3 days ago
- Business
- Shafaq News
Basrah crude prices climb despite global oil dip
Shafaq News – Basrah Prices for Iraq's Basrah Heavy and Medium crude grades edged higher on Thursday, defying a broader decline in global oil benchmarks. Basrah Heavy rose by 26 cents, or 0.38%, to $68.16 per barrel, while Basrah Medium also climbed 26 cents, or 0.37%, to $71.26. The increase came as international oil prices slipped amid market concerns over new tariff measures announced by US President Donald Trump, which traders fear could hamper global economic growth and reduce energy demand.
Shafaq News
3 days 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.
Shafaq News
5 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.
Shafaq News
05-07-2025
- 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%.
