Basrah crude prices rise over 1% with global oil market gains
2024-12-26T07:45:08+00:00
Shafaq News/ On Thursday, Basrah crude oil prices rose by more than 1%, tracking gains in global oil markets.
Basrah Heavy crude increased by $0.84, or 1.21%, to reach $70.35 per barrel, while Basrah Medium crude climbed by $0.84, or 1.16%, to settle at $73.45 per barrel.
Global oil prices were supported by optimism over potential fiscal stimulus in China, the world's largest crude importer, and expectations of a decline in US crude inventories.
By 01:48 GMT, Brent crude futures have risen by 11 cents, or 0.2%, to $73.69 a barrel. Meanwhile, US West Texas Intermediate crude increased by 15 cents, or 0.2%, to $70.25 a barrel, following Tuesday's pre-Christmas settlement.
