Shafaq News- Basrah
Iraq's Basrah Heavy and Basrah Medium crude grades posted weekly losses exceeding 12% despite rebounding in the final trading session of the week.
Basrah Heavy rose $2.37, or 4.94%, in the latest session to settle at $50.48 per barrel. However, the grade recorded a weekly loss of $7.66, equivalent to 13.2% from its level at the start of the week.
Basrah Medium also gained $2.37, or 4.72%, to close at $52.58 per barrel, but ended the week down $7.66, representing a 12.7% decline.