Basrah crudes post weekly gains despite global losses

Shafaq News- Basrah

Iraq’s Basrah crude advanced more than 4% over the past week, outperforming several major global oil grades.

Basrah Heavy crude fell by $2.29 in its last trading session to $69.28 per barrel, posting a daily loss of 3.20%, but recorded weekly gains of $3.21, or 4.63%. Basrah Medium crude also declined by $2.29 to settle at $71.38 per barrel, down 3.11% on the day, while registering weekly gains of $3.21, or 4.71%.

Brent crude futures settled at $93.09 a barrel, down $1.94, or 2.04%, while US West Texas Intermediate crude closed at $90.54 a barrel, down $2.50, or 2.69%.

UAE Murban crude also fell 2.49% to $91.17 per barrel.