Shafaq News – Basrah

Basrah’s Heavy and Medium crude grades fell on Wednesday in tandem with a broader decline in global oil markets.

Basrah Heavy dropped $1.39, or 2.2%, to $61.69 per barrel, while Basrah Medium slid by the same amount, or 2.15%, to $63.24 per barrel.

The slump followed early-session losses in international benchmarks as traders reacted to an International Energy Agency warning of a potential supply surplus in 2026 and to escalating US–China trade tensions, which analysts say could weigh on global demand.

Brent crude futures fell 12 cents (0.19%) to $62.27 per barrel, while US West Texas Intermediate (WTI) slipped 10 cents (0.17%) to $58.60.