Shafaq News/ On Wednesday, the prices of Basrah crude oil—both Heavy and Medium—declined, despite a rise in global oil prices.

The price of Basrah Heavy crude dropped by $2 to $66.65 per barrel, while Basrah Medium crude also saw a decrease of $2, settling at $69.80 per barrel.

Global oil prices rose due to signs of tightening supply in the near term, but remained near their lowest levels in two weeks, following OPEC’s recent revision of global oil demand growth projections for 2024 and 2025.

Brent futures rose 14 cents, or 0.2%, to $72.03 a barrel, while US West Texas Intermediate (WTI) crude futures gained 13 cents, or 0.2%, at $68.25.