Basrah crude ends week down more than 4%

Shafaq News – Basra

Basrah crude grades closed the week with losses after falling in their final trading session.

Basrah Heavy dropped $0.96 on Friday to settle at $59.59 per barrel, ending the week down $2.48, or 4%.

Basrah Medium also fell $0.96 in its last session, closing at $61.34 per barrel, with weekly losses of $2.58, or 4.04%.

Global oil benchmarks extended declines for a third straight session, as US pressure for a Russia–Ukraine peace deal raised expectations of increased supply. Both benchmarks were on track to finish the week more than 2% lower amid oversupply concerns.