Basra Crude posts weekly gains
2024-03-09T07:16:13+00:00
Shafaq News/ On Saturday, Basra crude experienced weekly gains amid a broader decline in global oil prices.
Basra Heavy crude concluded its latest session with an increase of 75 cents, settling at $78.47, representing a weekly profit of $0.67 (0.86% .)
Basra Intermediate crude saw an increase of 75 cents, closing at $81.77 and recording weekly gains of $1.52 (1.89%.)
Global oil prices wrapped up trading on Friday, registering a 1% decline, marking a larger weekly drop amid ongoing market concerns about weakened Chinese demand for crude. This trend persists despite the extended production cuts by the OPEC+ group. Both benchmark crudes experienced weekly declines, with Brent dropping by 1.8% and West Texas Intermediate decreasing by 2.5%.
