Basrah crude prices fall despite global oil market gains
2025-08-12T07:23:14+00:00
Shafaq News – Baghdad
Iraq’s Basrah crude prices fell on Tuesday despite an uptick in global oil markets.
Basrah Heavy dropped by $0.87, or 1.33%, to settle at $64.73 per barrel, while Basrah Medium declined by the same margin, or 1.26%, to $67.98 per barrel.
Globally, oil prices rose as the United States and China extended the suspension of planned tariff increases, easing fears that escalating trade tensions could harm their economies and reduce fuel demand in the world’s two largest oil consumers.
As of 00:15 GMT, Brent crude futures edged up by 26 cents to $66.89 a barrel, while US West Texas Intermediate (WTI) rose 22 cents to $64.18 a barrel.
