Basrah crude prices climb despite global oil decline
2025-05-13T06:05:06+00:00
Shafaq News/ On Tuesday, Basrah Heavy and Medium crude grades prices rose, defying a broader downturn in global oil markets driven by supply concerns.
Basrah Heavy rose by $1.69, or 2.76%, to $62.85 per barrel, while Basrah Medium gained $1.69, or 2.63%, reaching $66.00 per barrel.
In contrast, global oil prices slipped from two-week highs as fresh concerns over increased supply levels outweighed early optimism following the temporary easing of US-China trade tensions. Both countries recently announced a short-term reduction in tariffs.
Brent crude dropped to $64.74, while West Texas Intermediate (WTI) declined to $61.77 per barrel.
