Shafaq News- Baghdad

Iraq's two Basrah export grades climbed more than $12 on Thursday, outpacing modest gains in global benchmarks.

Basrah Heavy settled at $77.43 a barrel, up $12.39, or 19.05%. Basrah Medium rose to $80.73 a barrel, gaining $12.39, or 18.13%.

The moves ran well ahead of the day's global benchmarks. Brent crude edged up 0.3% to $91.87 a barrel, while West Texas Intermediate (WTI) slipped 2 cents to $85.81.

In Arab markets, Saudi Arab Light was priced at $85.44 a barrel, up 35 cents, or 0.41%. Kuwait Export Blend rose $2.42, or 2.92%, to $85.23 a barrel. In the UAE, Murban crude was priced at $99.40 a barrel, up $1.65, or 1.69%, while Qatar Land crude stood at $94.32 a barrel.