Basrah crude dip amid a surge in global market
2024-05-16T08:25:25+00:00
Shafaq News / On Thursday, Basrah crude oil dropped with a surge in global oil prices.
Basrah Heavy crude recorded a decrease of $1.71 to $80.90, while Basrah Medium dropped by $1.71 to $83.85.
Global oil prices rose today, extending gains from the previous session amid signs of strong U.S. demand. Data showed inflation rising less than expected, bolstering the case for lower interest rates, which could further boost demand.
Brent futures rose 35 cents, or 0.4%, to $83.10 a barrel at 3:10 a.m. GMT, while U.S. West Texas Intermediate crude (WTI) gained 40 cents, or 0.5%, to $79.03.
