Basrah crudes rise 6% at Friday close as oil prices climb
2026-03-28T06:52:56+00:00
Shafaq News- Basrah
Iraq’s Basrah crude rose on Friday, tracking gains in global oil markets amid uncertainty over prospects for a ceasefire in the ongoing US-Israel-Iran war.
Basrah Heavy crude increased by $5.95, or 6%, to $105.10 per barrel, while Basrah Medium crude gained $5.95, or 5.95%, to $107.20 per barrel.
Global benchmarks also advanced, with Brent crude at $114.53 per barrel and US West Texas Intermediate (WTI) at $101.18.
Iraqi crude is priced by destination: Exports to Asia track the average of Dubai and Oman crude, shipments to Europe are benchmarked to Brent, and exports to the United States follow WTI, each with premiums or discounts based on market conditions.
