Shafaq News/ On Wednesday, Basrah Heavy and Basrah Medium crude prices rose, despite falling oil prices in global markets.

Basrah Heavy increased by $0.62 to $69.74 per barrel, and Basrah Medium also increased by $0.62 reaching $72.89 per barrel.

Global oil prices dipped as early polling in the US presidential election indicated a tight contest between Democrat Kamala Harris and Republican Donald Trump, raising investor concerns about potential volatility in future US energy policy.

By 04:50 GMT, Brent crude futures were last down 90 cents, or 1.2%, trading at $74.63 a barrel. US West Texas Intermediate (WTI) crude slipped 82 cents, or 1.1%, to $71.17 a barrel.