Basrah crudes record upward trend amid global oil fluctuations
2024-11-18T06:52:34+00:00
Shafaq News/ On Monday, Basrah's Heavy and Medium crude oil prices witnessed a slight uptick in tandem with rising global oil prices.
Basrah Heavy crude rose by $0.09 to $66.82 per barrel. Similarly, Basrah Medium crude increased $0.09 to $70.12 per barrel.
This price increase follows the escalation of conflict between Russia and Ukraine over the weekend. Additionally, concerns about fuel demand in China, the world's second-largest oil consumer, along with expectations of a global oil surplus, have influenced market conditions.
Brent crude futures gained 29 cents, or 0.4%, to $71.33 a barrel, while US West Texas Intermediate crude futures were at $67.20 a barrel, up 18 cents, or 0.3%.
