Iraqi Basrah crude outperforms global market with 2.6% gain
2026-05-19T06:14:10+00:00
Shafaq News- Basrah
Iraq’s Basrah crude rose more than 2.6% on Tuesday, bucking declines in global oil markets driven by volatility linked to geopolitical tensions and shifting energy demand expectations.
Basrah Medium crude rose to $111.10 per barrel, up 2.61%, while Basrah Heavy crude climbed to $109.00 per barrel, gaining 2.67%.
Brent crude futures fell $2.21, or 1.97%, to $109.89 per barrel, while US West Texas Intermediate declined $1.30, or 1.20%, to $107.36.
Among other Arab benchmarks, Saudi Arabia’s Arab Light crude rose 2.49% to $119.10 per barrel, while Kuwait Export crude reached $124.63 per barrel.
