Basrah Crude sees weekly gain despite global oil market losses
2024-08-31T06:08:57+00:00
Shafaq News/ Basrah crude oils posted weekly gains despite global oil prices facing weekly and monthly losses.
Basrah Heavy crude closed on Friday with an increase of $1.14, reaching $74.66 per barrel, marking a weekly gain of $2.19, or 3.2%.
Basrah Medium crude ended the session with a rise of $1.14, reaching $77.66 per barrel and achieving a weekly gain of $2.19, or 2.9%.
Global oil prices declined for the second consecutive week, weighed down by signs of weakening demand. Brent crude recorded a weekly loss of 1.5% and a monthly decline of 4.7%. Meanwhile, U.S. West Texas Intermediate (WTI) crude fell by 1.7% over the week and 5.6% over the month.
