Basrah crude drops despite global oil rise - Shafaq News | Latest breaking news in Iraq and the world
Shafaq News- Basrah Basrah crude slipped by less than 1% on Thursday, diverging from broader gains in global oil markets. Basrah Heavy crude lost 76
Shafaq News- Basrah Basrah crude slipped by less than 1% on Thursday, diverging from broader gains in global oil markets. Basrah Heavy crude lost 76 cents, or 0.71%, to $106.85 per barrel, while Basrah Medium crude declined 0.69% to $108.95 per barrel.
Despite the drop, Iraqi crude prices remained above several Gulf benchmarks. Dubai crude stood at $105.34 per barrel, Oman crude at $106.36, Qatar Marine at $105.60, and UAE Das crude at $105.85.
However, some Gulf grades traded at higher levels, with Kuwaiti crude standing at $123.62 per barrel, Saudi Arab Light registering at $116.96, and Arab Medium recording at $115.21. Globally, Brent crude gained 0.74%, adding 78 cents to reach $105.80 a barrel.
US West Texas Intermediate (WTI) rose 0.85%, reaching $99.10.
The BriefWire