Shafaq News/ On Wednesday, Basrah crude oil prices rose by more than 3%, tracking gains in global oil markets.

Basrah Heavy crude increased by $2.67, or 3.80%, to $72.86 per barrel, while Basrah Medium crude climbed by $2.77, or 3.78%, to settle at $76.06 per barrel.

Global oil prices edged higher, supported by tightening supplies from the Organization of the Petroleum Exporting Countries (OPEC) and robust economic activity in the United States.

By 04:15 GMT, Brent crude had risen 29 cents, or 0.37%, to $77.34 a barrel, while US West Texas Intermediate (WTI) crude gained 36 cents, reaching $74.61 per barrel.