Shafaq News- Basrah

Iraq’s Basrah crude prices posted modest losses on Wednesday, even as global oil prices moved higher, according to oil price data reviewed by Shafaq News.

Basrah Heavy crude fell 9 cents, or 0.11%, to $80.34 a barrel, while Basrah Medium crude also slipped 9 cents to $83.64 a barrel from the previous session.

Brent futures rose 75 cents, or 0.8%, to $95.40 a barrel. US West Texas Intermediate crude gained 44 cents, or 0.5%, to $90.66.

Among regional crude benchmarks, the UAE’s Murban crude rose $7.70 to $106.15 a barrel, an increase of 7.82%. Oman crude on the Dubai Energy Exchange climbed $3.88, or 4.29%, to $94.31 a barrel.

The OPEC basket also rose $2.39, or 2.67%, to $91.98 a barrel, while Kuwait’s export crude price increased $2.21, or 2.53%, to $89.65 a barrel.