Shafaq News/ Basrah Crude recorded weekly losses over the past week, with the global oil market experiencing its third consecutive weekly decline.

Basrah Heavy crude concluded its latest session on Friday with an increase of $1.07, closing at $77.88. however, it recorded a weekly loss of $2.84 or 3.52%.

Basrah Medium crude surged by $1.07, settling at $80.83 in its recent session. Its weekly gains amounted to $2.84 or 3.39%.

At the close of trading on Friday, benchmark Brent crude futures for August 2024 declined by 0.3%, reaching $79.62 per barrel, with weekly losses of 1.8%.

Meanwhile, U.S. West Texas Intermediate crude futures for July 2024 fell by 0.02%, reaching $75.53 per barrel, recording weekly losses of 1.9%.