Basrah crude ends the week down 2%
2026-05-23T06:59:26+00:00
Shafaq News- Basrah
Iraq’s Basrah Heavy and Medium crude oils closed last week with losses of around 2%.
Heavy Basrah crude fell 56 cents in the final session to $103.86 per barrel, down $2.31 or 2.18% for the week.
Medium Basrah crude also dropped 56 cents to $106.96 per barrel, marking a weekly loss of $1.31, or 1.21%.
Brent crude was trading near $105 per barrel amid continued uncertainty surrounding US-Iran negotiations and the closure of the strategic waterway, a critical route for Iraqi and Gulf oil exports.
Read more: Iraq’s oil bottleneck: Abundance trapped by dependency
