Basrah crudes surge following global oil rise
2024-07-03T07:01:42+00:00
Shafaq News/ On Wednesday, Basrah crude oil climbed alongside a surge in global oil prices.
Basrah Heavy crude edged higher by $0.99 to $83.22, while Basrah Medium also rose by $0.99 to $86.07.
Globally, oil prices rose after industry data showed a bigger-than-expected draw in US crude stockpiles while the market monitored escalating tensions in the Middle East.
Brent crude futures edged up 47 cents, or 0.5%, to $86.71 per barrel at 0330 GMT, reaching a 10-week high. US West Texas Intermediate crude futures climbed 43 cents, or 0.5%, to $83.24 per barrel, close to a two-month high hit earlier this week.
