Basrah crude gains for second straight week
2025-03-22 06:18
Shafaq News/ Iraq’s Basrah crude extended its weekly gains for the second consecutive week.
Basrah Heavy closed Friday’s trading session up $2.24 at $70.04 per barrel, registering a weekly gain of $1.82 or 2.67%.
Similarly, Basrah Medium gained $2.24 in its last session to settle at $73.09 per barrel, marking a weekly increase of $2.26, or 3.19%.
Global oil benchmarks Brent and US West Texas Intermediate (WTI) also ended the week higher, as US sanctions on Iran and a new OPEC+ output cut plan fueled expectations of supply constraints.
Brent crude futures climbed 16 cents, or 0.22%, to settle at $72.16 per barrel.
WTI crude futures added 21 cents, or 0.31%, to close at $68.28 per barrel.
