Basrah crude rises amid a surge in the global market
2024-05-28T07:09:15+00:00
Shafaq News / On Tuesday, Basrah crude oil increased with a rise in global oil prices.
Basrah Heavy crude surged by $0.80 to $80.99, and Basrah Medium climbed by $0.80 to $83.94.
Globally, oil prices climbed in Asian trade on Tuesday, extending gains from the previous session, buoyed by expectations of strong fuel demand from the U.S. during the summer, ahead of an output policy decision from OPEC+ at a June 2 meeting.
July Brent crude rose 21 cents to $83.31 a barrel by 0329 GMT. The more active August futures climbed 21 cents to $83.09.
U.S. West Texas Intermediate (WTI) crude futures for July were at $78.90 a barrel, up $1.18, or 1.52%, from Friday's close, having traded through a U.S. holiday to mark Memorial Day without a settlement.
