Basrah crude prices decline as global oil prices rebound
2024-08-29T06:34:46+00:00
Shafaq News/ On Thursday, Basrah crude oil dropped with a rise in global oil prices.
Basrah Heavy crude edged lower by $1.42 to $74.19, and Basrah Medium also dropped by $1.42 to $77.19.
Basrah crude prices dropped despite global oil markets rebounding after two days of losses. Concerns over potential oil supply disruptions from Libya drove global prices higher, though a smaller-than-expected decline in U.S. crude stockpiles left investors unimpressed.
By 0355 GMT, Brent crude futures had risen 9 cents, or 0.11%, to $78.74 per barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 15 cents, or 0.2%, reaching $74.67 per barrel.
