Basrah crudes rallies as oil markets climb

Shafaq News- Basrah

Iraq’s Basrah crude increased by more than 3.5% on Wednesday, tracking a broader rise in global oil prices amid continued uncertainty over US–Iran negotiations.

Basrah Heavy crude climbed $2.32, or 3.82%, to $62.98 per barrel, while Basrah Medium crude advanced to $65.08 per barrel, gaining 3.70%.

Global benchmarks also moved higher, with Brent crude up 0.45% to $73.28 per barrel. US West Texas Intermediate (WTI) traded near $69.84 per barrel, up about 0.49%, or 34 cents.

Saudi Arabia’s Arab Light crude rose 3.00% to $78.87 per barrel. Qatar’s Al Shaheen crude gained 2.87% to $67.84, and United Arab Emirates’s Das crude edged up 0.33% to settle at $66.89 per barrel.

In contrast, the OPEC basket of crudes fell 3.60% to $77.37 per barrel, while Dubai crude remained unchanged at $79.52 per barrel.