Slight weekly gains for Basrah Crude amid global losses

Shafaq News/ Basrah Crude recorded slight weekly gains during the past week despite global oil recording weekly and monthly losses.

Basrah Heavy crude concluded its latest session on Friday with a decrease of $1.26, closing at $80.72. This downturn resulted in a weekly gains of $0.53 or 0.66%.

Basrah Medium crude descends by $1.26, settling at $83.67 in its recent session. Its weekly gains amounted to $0.53 or 0.64%.

At the end of yesterday's session on Friday, the prices of futures contracts for Brent crude oil, for the month of July 2024, decreased by 0.3%, reaching $81.62 per barrel, and recorded weekly losses of 0.6%, while monthly losses of 5.4%.

At the same time, US West Texas Intermediate crude futures for July 2024 fell by 1.1%, reaching $76.99 per barrel, and recorded weekly losses of 0.9%, while monthly losses of 5.3%.