Latest news with #BasrahHeavy
Shafaq News
21 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.
Shafaq News
2 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
5 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%.
Shafaq News
01-07-2025
- Business
- Shafaq News
Basrah crudes drop amid global decline
Shafaq News - Baghdad/Erbil On Tuesday, Basrah crude oil prices edged lower with a drop in global oil prices. Basrah Heavy crude decreased by $0.02, or 0.03%, to $65.51 per barrel, and Basrah Medium crude by $0.02, or 0.03%, reaching $68.51 per barrel. Brent crude futures fell $0.16, or 0.24%, to $66.58 a barrel. West Texas Intermediate (WTI) crude futures dropped $0.2, or 0.31%, to $64.91, according to Reuters.
Shafaq News
17-06-2025
- 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.
