Latest news with #BasrahHeavy
Shafaq News
9 hours ago
- Business
- Shafaq News
Basrah crudes rise despite a global drop
Shafaq News/ On Wednesday, Basrah crude oil prices edged up despite a global decrease in oil prices. Basrah Heavy crude rose by 99 cents to $61.41 per barrel, and Basrah Medium crude by 99 cents, reaching $64.36 per barrel. Brent crude futures dipped 23 cents, or 0.4%, to $65.40 a barrel by 0318 GMT, while U.S. West Texas Intermediate crude was down 25 cents, or 0.4%, at $63.16 a barrel.
Shafaq News
a day ago
- Business
- Shafaq News
Basrah crudes rise with a global surge
Shafaq News/ On Tuesday, Basrah crude oil prices edged up with a global increase in oil prices. Basrah Heavy crude rose by 5 cents to $60.42 per barrel, and Basrah Medium crude by 5 cents, reaching $63.37 per barrel. Brent crude futures climbed by 21 cents, or 0.32%, reaching $64.84 a barrel by 0437 GMT. US West Texas Intermediate crude gained 27 cents, or 0.43%, to $62.79 a barrel, following a rise of about 1% earlier in the session.
Shafaq News
4 days ago
- Business
- Shafaq News
Iraq's Basrah crude posts weekly losses as global oil prices dip
Shafaq News/ On Saturday, Iraq's Basrah crude grades recorded modest weekly losses, tracking declines in global oil benchmarks amid market uncertainty over US trade policy and an upcoming OPEC+ meeting. Basrah Heavy fell by $1.90 on Friday to close at $60.37 per barrel, marking a weekly loss of 21 cents, or 0.35%. Basrah Medium dropped by the same amount, settling at $63.53 per barrel and posting a similar weekly decline of 21 cents, or 0.33%. Brent and US West Texas Intermediate (WTI) also closed lower on the week, each shedding over 1%, weighed down by legal ambiguity surrounding potential US tariffs and cautious sentiment ahead of the OPEC+ gathering. Analysts expect the alliance to assess output policy in light of slowing demand signals and persistent inventory pressure.
Shafaq News
6 days ago
- Business
- Shafaq News
Basrah crudes drop despite global oil rise
Shafaq News/ Basrah crude prices dropped on Thursday, despite a global surge in oil markets. Basrah Heavy crude fell 41 cents to settle at $60.65 per barrel, while Basrah Medium crude declined by the same amount to $63.60 per barrel.
Shafaq News
28-05-2025
- Business
- Shafaq News
Basrah crude prices fall despite global oil market gains
Shafaq News/ Basrah crude prices declined on Wednesday, even as global oil benchmarks posted moderate gains. Basrah Heavy fell by 40 cents to $61.06 per barrel, while Basrah Medium dropped by the same margin to $64.01. The drop comes despite rising global oil prices, driven by a new US decision to bar Chevron from exporting crude from Venezuela under a revised license—fueling concerns about a tighter global supply.
