Basrah crude prices surge with global oil gains

Basrah crude prices surge with global oil gains
2025-01-16 06:48

Shafaq News/ On Thursday, Basrah crude oil prices climbed as global oil benchmarks extended gains.

Basrah Heavy crude increased by $0.21, or 0.27%, to $77.51 per barrel, while Basrah Medium crude climbed by $0.21, or 0.26%, to settle at $80.76 per barrel.

Oil prices gained for a second consecutive session on Thursday, bolstered by supply concerns stemming from US sanctions on Russia, a sharper-than-expected decline in US crude oil inventories, and a strengthening global demand outlook.

By 04:46 GMT, Brent crude futures increased by 25 cents, or 0.3%, to $82.28 a barrel, while US West Texas Intermediate (WTI) crude rose by 28 cents, or 0.4%, to $80.32 a barrel.

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