Iraq's Basra crude prices drop slightly
2023-07-27T09:05:00+00:00
Shafaq News / Prices of Basra's heavy and intermediate crude fell on Thursday but remained above $80.
Basra heavy crude prices fell 6 cents, equivalent to 0,07%, reaching $81.23, while Basra intermediate crude prices also saw a decrease of 6 cents, or 0,07%, reaching $84.26.
Central raw materials, including Brent, American, Dubai, and Oman crude, affect Basra crude prices.
The pricing mechanism is based on the sale of Iraqi crude to different regions: to Asia, it is sold according to the prices of Dubai and Oman; to Europe, according to the prices of Brent; and to the US, based on the calculation of US crude prices.
