Shafaq News- Basrah

Iraq’s Basrah crude lost more than 18% over the past week, as major global benchmarks weakened.

Basrah Heavy crude dropped by $2.68 in its final trading session to $58.14 per barrel, down 4.41% on the day and recording a weekly loss of $11.14, or 19.16%. Basrah Medium crude slipped by $2.68 to close at $60.24 per barrel, falling 4.26% in its last session and posting a weekly loss of $11.14, or 18.49%.

Globally, Brent crude decreased by $3.05 to $87.33 per barrel, a decline of 3.37%, while US West Texas Intermediate crude shed $2.83 to settle at $84.88 per barrel, down 3.23%.

UAE Murban crude retreated 4.85% to $83.02 per barrel, while Russia’s Urals crude fell 5.61% to $78.39. US Mars crude also lost 5.58% of its value.