Shafaq News / Prices for Basra's heavy and Intermediate crude oil experienced a notable increase, defying the global trend of declining oil prices.

The cost of Basra's heavy crude oil rose by 3.39 dollars, reaching 87.23 dollars, while prices for Basra's Intermediate crude oil also climbed by 3.39 dollars, totaling 90.38 dollars.

This surge in Basra crude prices occurred despite a recent drop in global oil prices, which had fallen by more than a dollar yesterday. Market analysts attributed this fluctuation to hopes that the United States might ease sanctions on Venezuela, a significant oil-producing nation, coupled with Washington's intensified efforts to prevent escalation in Gaza.