Shafaq News- Basrah

Iraqi crude prices rose on Wednesday alongside gains in global oil benchmarks.

Basrah Heavy increased $0.40, or 0.55%, to $73.70 per barrel, while Basrah Medium gained $0.40, or 0.52%, to $77.00.

Globally, Brent crude rose $0.60, or 0.58%, to $103.19 per barrel, while US West Texas Intermediate gained $0.19, or 0.21%, to $89.57. Oil prices were supported by continued uncertainty over US-Iran tensions and sanctions, while recovering Middle East supplies limited further gains.

By contrast, the OPEC reference basket fell $1.03, or 0.91%, to $111.75 per barrel, while the UAE’s Murban crude dropped $2.31, or 1.98%, to $114.63.