Baghdad, Iraq- Iraq’s Basrah crude prices closed the week with losses, reflecting broader trends in the global oil market.
Basrah Heavy crude ended Friday’s trading session at $74.53 per barrel, gaining 34 cents on the day but registering a weekly decline of 44 cents, or 0.59%. Meanwhile, Basrah Medium rose by 34 cents to settle at $77.58 per barrel, yet posted a weekly drop of 54 cents, or 0.69%.
International benchmark Brent crude futures slipped 28 cents, or 0.37%, to close at $74.74 a barrel. Similarly, U.S. West Texas Intermediate (WTI) crude saw a decline of 55 cents, or 0.77%, settling at $70.74 per barrel.
The price movements come as global oil markets react to supply dynamics and economic indicators, influencing trading activity across major benchmarks.
