Shafaq News/ Iraq’s Basrah crude ended the week with notable gains as global oil prices climbed.

Basrah Heavy closed Friday’s trading session down $0.16 at $70.19 per barrel, registering a weekly gain of $1.17 or 1.7%.

Similarly, Basrah Medium declined by $0.16 to settle at $73.29 per barrel, marking a weekly increase of $1.17 or 1.62%.

Brent and West Texas Intermediate (WTI) crude benchmarks recorded weekly gains of 1% as trading volumes tapered off ahead of the year-end, supported by a drop in US crude inventories and optimism over an economic recovery fueled by stimulus measures in China.