Basrah crudes inch lower despite global oil surge
2024-07-18T06:56:02+00:00
Shafaq News/ On Thursday, prices for Basrah crude oils fell, while global crude prices experienced an uptick.
Basrah Heavy crude declined by $0.66, settling at $78.66 per barrel.
Basrah Medium crude saw a decline of $0.66, bringing its price to $81.76 per barrel.
Globally, oil prices extended gains from the previous session on Thursday, buoyed by a larger-than-expected decline in U.S. crude stockpiles last week, the world's largest oil consumer.
Brent futures rose 32 cents, or 0.4%, to $85.40 a barrel by 0340 GMT, while U.S. West Texas Intermediate (WTI) crude gained 48 cents, or 0.6%, to $83.33.
Both contracts settled higher on Wednesday.
