Basra crude prices retreat amid global oil rally
2024-04-11T09:15:58+00:00
Shafaq News/ On Thursday, Basra Heavy and Intermediate crude prices dropped amid surging global oil prices.
Basra Heavy crude fell by 60 cents, reaching $85.51, and prices for Basra Intermediate crude fell by 80 cents to $88.71.
Oil prices continued to climb on Thursday, building on a dollar per barrel increase from the previous session, amid concerns of escalating tensions in the Middle East, with Iran, OPEC's third-largest oil producer, potentially being involved.
Brent crude futures saw a 30-cent uptick, representing a 0.3% rise, reaching $90.78 per barrel by 0325 GMT.
U.S. West Texas Intermediate crude futures also experienced a 25-cent increase, or 0.3%, reaching $86.46 per barrel.
