Basra crude sees weekly declines amid continuing global oil losses

Shafaq News/ Basra crude oil reported weekly losses following a prolonged decline in global oil prices, marking the sixth consecutive week of downturn.

During its last trading session on Friday, Basra Heavy crude concluded with a $2.84 drop, settling at $77.52, resulting in weekly losses of $1.08, representing a 1.37% decrease.

Basra Intermediate crude closed its last session at $81.65, indicating a decrease of $2.84 and registering weekly losses of $1.08, equivalent to 1.32%.

In the concluding session on Friday, Brent crude oil dropped by approximately 2.4%, reaching $78.88 per barrel, marking a weekly decrease of 2%.

US West Texas Intermediate crude futures experienced a 2.5% decline, closing at $74.07 per barrel and showing weekly losses of 1.9%.