Shafaq News/ On Monday, the prices of Basrah Heavy and Basrah Medium crude rose alongside stable oil prices in global markets.

Basrah Heavy crude increased by 18 cents to $69.80, while Basrah Medium crude also rose by 18 cents to $72.82.

According to Reuters, brent crude futures rose 8 cents, or 0.11%, to $73.14 a barrel by 01:20 GMT. US West Texas Intermediate crude futures gained 10 cents, or 0.14% to $69.32 a barrel.

That marked the contracts' biggest weekly declines since Sept. 2, on slowing economic growth in China and falling risk premiums in the Middle East. US President Joe Biden said on Friday there was an opportunity to "deal with Israel and Iran in a way that ends the conflict for a while".