Shafaq News/ On Wednesday, Basrah crude oil prices edged lower despite an increase in global oil prices.

Basrah Heavy crude rose by $3.58 to $70.52 per barrel, and Basrah Medium crude by $3.58, reaching $73.67 per barrel.

Globally, oil prices inched higher on Wednesday amid uncertainty over what may happen next in the Middle East conflict, after demand concerns knocked the market to its lowest since early October in the previous session.

Brent crude oil futures rose 19 cents, or 0.3%, to $74.44 a barrel by 0630 GMT. U.S. West Texas Intermediate crude futures climbed 24 cents, or 0.3%, to $70.82 per barrel, according to Reuters.