Prices of Basra crudes to Asian markets shrug +1.5% 

Shafaq News/ The price of Basra crudes to Asian customers shrugged more than 1.5% on Monday, pressured by the downtrend of global benchmarks.

Basra's heavy crude price to Asian markets slid by $1.54, or 1.90%, settling $79.32. The intermediate crude of Basra dropped to $84.97 after losing $1.54, or 1.78%.

Oil prices dropped to near two-month lows on Monday, sliding around $1 a barrel, as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices.

Brent crude futures for January had slipped 87 cents, or 1%, to $86.75 a barrel by 0436 GMT.

U.S. West Texas Intermediate (WTI) crude futures for December were at $79.21 a barrel, down 87 cents or 1.1%, ahead of the contract's expiry later on Monday. The more active January contract last fell 69 cents or 0.9% to $79.42 a barrel.