Basrah crude posts strong weekly gains

Shafaq News/ Iraq’s Basrah crude ended the week with significant gains.

Basrah Heavy closed Friday’s trading session down 95 cents at $78.43 per barrel, registering a weekly gain of $8.24 or 11.74%.

Similarly, Basrah Medium dropped by 95 cents to settle at $81.68 per barrel, marking a weekly increase of $4.92 or 6.41%.

Brent crude futures dipped 50 cents, or 0.6%, at $80.79 per barrel, but gained 1.3% this week. US West Texas Intermediate crude futures lost 80 cents, or 1%, at $77.88 a barrel, having climbed 1.7% for the week.