For the second week, Basrah crudes record weekly losses with global oil price decline

Shafaq News/ Basrah crude oil recorded losses over the past week, mirroring the global oil price decline of 3% for the second consecutive week.

Basrah Heavy crude concluded its latest session on Friday with a decrease of $1.09, closing at $79.41. This downturn resulted in a weekly loss of $1.75 or 2.6%.

Basrah Medium crude dropped by $1.09, settling at $82.31 in its recent session, and registered a weekly loss of $1.42 or 2.6%.

On Friday, Brent crude prices dropped by 83 cents, or 1%, to $84.28 a barrel by 1330 GMT. US West Texas Intermediate (WTI) crude futures declined by 63 cents, or 0.8%, to $82.19 a barrel.