Shafaq News- Basrah

Iraq’s Basrah crude lost more than 24% over the past week, as major global benchmarks weakened.

Basrah Heavy crude dropped by $1.65 in its last trading session to $48.27 per barrel, down 3.31% on the day and recording a weekly loss of $11.82, or 24.49%. Basrah Medium crude slipped by $1.65 to settle at $50.37 per barrel, falling 3.17% in its final session and posting a weekly loss of $6.82, or 13.54%.

Brent futures settled at $76.30 a barrel, down $1.72, or 2.2%, while US West Texas Intermediate (WTI) crude closed at $72.08 a barrel, down $1.44, or 2.0%.