Shafaq News/ On Monday, the prices of Basrah's Heavy and Medium crude oil witnessed a slight decline, despite the stability in global oil prices.

Basrah Heavy crude oil dropped by 6 cents to $69.83 per barrel, while the price of Basrah Medium crude oil decreased by the same amount, reaching $72.28 per barrel.

Meanwhile, global oil prices remained at their highest levels in two weeks, having gained 6% over the past week. This comes amid escalating geopolitical tensions between Western powers and major oil producers Russia and Iran, increasing the risk of supply disruptions.

Brent crude futures slipped 26 cents, or 0.35%, to $74.91 a barrel, while US West Texas Intermediate crude futures were at $70.97 a barrel, down 27 cents, or 0.38%.