Shafaq News- Basrah

Basrah Heavy crude fell to $109.15 per barrel on Wednesday, dropping more than 2% despite a broader rise in global oil prices driven by escalating geopolitical risks in the Middle East.

Basrah Medium crude also declined in tandem, reflecting pressure on Iraqi export grades even as international benchmarks climbed on supply disruption concerns.

Iraqi crude pricing varies by export destination: shipments to Asia are benchmarked against the average of Dubai and Oman crude, while exports to Europe are linked to Brent, and those to the United States are priced against West Texas Intermediate, each adjusted by market premiums or discounts.