Shafaq News- Basrah

Iraq’s Basrah crude fell more than 2% on Thursday, diverging from gains in global oil markets.

Basrah Medium crude declined to $107.85 per barrel, down 2.02%, while Basrah Heavy crude fell to $105.75 per barrel, losing 2.06%.

Brent crude futures rose 39 cents, or 0.37%, to $106.02 per barrel, while US West Texas Intermediate gained 51 cents, or 0.50%, to $101.53. OPEC’s basket price also climbed sharply to $115.09 per barrel, up $7.43, or 6.90%.

The gains in global benchmarks came as markets monitored the summit between US President Donald Trump and Chinese President Xi Jinping in Beijing for possible signals on the Iran war and disruptions in the Strait of Hormuz, while Iraqi crude moved against the broader upward trend.