Basra crude prices slide as global oil market weakens
2024-06-04T06:47:20+00:00
Shafaq News/ Iraqi Basrah Heavy and Medium crude prices fell on Tuesday amid a broader decline in the global oil market.
Basrah Heavy dropped $1.44 to $79.28 a barrel, while the Medium counterpart slipped $1.44 to $82.23 a barrel.
The losses extended a slide from the previous session, which saw oil prices hit a four-month low. Investors are worried about over-supply later in the year, alongside cautious demand forecasts from the key consuming nation, the United States.
