Basrah crude faces significant weekly losses
2024-09-07T06:26:56+00:00
Shafaq News/ Basrah Heavy and Medium crude experienced substantial weekly losses as global oil prices fell sharply.
On Friday, Basrah Heavy closed up 40 cents at $68.76, marking a weekly loss of $6.10, or 7.90%. Basrah Medium also closed up 40 cents at $71.76, with a weekly loss of $6.10, or 7.60%.
Global oil prices have been declining for four consecutive sessions amid anticipation of OPEC+ decisions.
US West Texas Intermediate crude saw a weekly loss of 7.9%, while Brent crude experienced a sharp weekly decline exceeding 7.6%.
