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.

Brent crude was trading at $69.97 per barrel, while US West Texas Intermediate (WTI) stood at $68.11.