Shafaq News- Basrah

Iraq’s Basrah crude prices rose more than 4% on Wednesday, tracking gains in global oil markets after the United States and Iran exchanged strikes, according to oil price data reviewed by Shafaq News.

Basrah Heavy crude increased by $2.54, or 4.63%, to $57.43 per barrel, while Basrah Medium crude climbed 4.44% to $59.73 per barrel.

Global benchmarks also moved higher, with Brent crude gaining $1, or 1.1%, to $92.01 a barrel. US West Texas Intermediate (WTI) rose 82 cents, or 1.0%, to $85.16.

Among Arab OPEC grades, Kuwait Export crude recorded the largest increase, rising by $5.14, or 6.25%, to $87.39 a barrel. Saudi Arabian Light crude advanced by $3, or 4.02%, to $77.61 a barrel, while the UAE’s Das crude rose to $80.94 a barrel.