Basrah crude loses over 12% on week

Shafaq News- Basrah

Iraq’s Basrah crude ended the week down more than 12%, despite gains in the final trading session.

Basrah Heavy crude climbed by $2.84, or 6.23%, in the final session to settle at $48.41 per barrel, but recorded a weekly loss of $7.25, or 13.03%, from $55.66 at the start of the week.

Basrah Medium crude rose by $2.84, or 5.73%, to close at $52.41 per barrel, posting a weekly loss of $7.25, or 12.15%, from its opening level of $59.66.

Brent crude traded at $95.96 per barrel, up 14 cents, or 0.15%, while US West Texas Intermediate crude (WTI) rose 5 cents, or 0.06%, to reach $88.79 per barrel before the close.