Basrah crudes climb amid a surge in global oil prices
2024-12-11T05:36:12+00:00
Shafaq News/ On Wednesday, Basrah crude oil climbed, following the increase in global oil prices.
Basrah Heavy crude oil prices surged by $0.33, settling at $66.44 per barrel. Basrah Medium crude oil prices gained $0.33 to $69.59 per barrel.
Globally, oil prices edged higher on Wednesday as market participants anticipated increased demand in China, the world's largest crude importer, following Beijing's announcement of looser monetary policy measures aimed at boosting economic growth.
Brent crude futures climbed 36 cents, or 0.5%, to $72.55 a barrel by 0430 GMT, while US West Texas Intermediate (WTI) crude futures also rose 36 cents, or 0.5%, to $68.95.
