Shafaq News – Baghdad
Iraq’s Basrah crude grades closed lower for a second consecutive week, reflecting the broader downturn in global oil markets.
Basrah Heavy fell by $1.76 on Friday to close at $63.74 per barrel, posting a weekly decline of $1.07, or 1.65%. Basrah Medium closed at $66.84 per barrel, marking a sharper weekly decline of $3.27, or 2.01%.
International benchmarks posted gains. Brent crude added $1.32, or 2.01%, over the week, while US crude rose 71 cents, or 1.15%.