Basrah crudes inch up following a global oil surge
2024-04-24T07:09:37+00:00
Shafaq News / Prices of Basrah Heavy and Medium crude oils rose on Wednesday, following a surge in oil prices in the global markets.
Basrah Heavy crude oil increased by 52 cents to reach $84.24, while the price of Basrah Medium crude oil also rose by 52 cents to reach $87.44.
Globally, oil prices were slightly higher after industry data showed a surprise drop in U.S. crude stocks last week, a positive sign for demand, though markets were also keeping a close eye on hostilities in the Middle East, as reported by Reuters.
Brent crude futures gained 5 cents, or 0.06%, to $88.47 a barrel and U.S. West Texas Intermediate crude futures climbed 8 cents, or 0.1%, to $83.44 a barrel.
