Basrah crudes lower despite global oil market rally
2024-10-17T07:32:23+00:00
Shafaq News/ On Thursday, the prices of Basrah Heavy and Basrah Medium crude edged lower alongside decreasing oil prices in global markets.
Basrah Heavy crude fell by 38 cents to $70.14, while Basrah Medium crude inched lower by the same amount to $73.29.
Globally, oil prices edged higher on Thursday from two-week lows, with investors eyeing developments in the Middle East and more details on China's stimulus plans, as well as awaiting the release of official US oil inventory data.
Brent crude futures rose 17 cents, or 0.2%, to $74.39 a barrel by 0408 GMT, while US West Texas Intermediate crude futures were at $70.58 a barrel, up 19 cents, or 0.3%, according to Reuters.
