Shafaq News- Baghdad

Basrah Heavy and Basrah Medium crude grades closed the week lower, retreating as global oil markets eased amid reduced concerns over supply disruptions in the Middle East.

Basrah Heavy edged up 7 cents in its final Friday session to $63.35 a barrel, but posted a weekly loss of 40 cents, or 0.63%.

Basrah Medium also rose 7 cents on Friday to settle at $65.80 a barrel, recording a weekly decline of 40 cents, equivalent to 0.61%.

The pullback came as Brent and US crude headed for their first weekly losses in more than a month, trading more than 3% below their recent six-month highs.

Oil prices softened as fears of Middle East supply disruptions eased and investors shifted focus to the outcome of ongoing US–Iran nuclear talks.