Basrah Crude edge up mirroring global oil prices
2024-09-16T06:57:04+00:00
Shafaq News/ On Monday, Basrah crude climbed slightly, with a bounce in
global oil prices.
Basrah Heavy crude gained 9 cents to $67.50 per barrel, while Basrah
Medium crude edged higher by 9 cents to $70.56 per barrel.
Oil prices edged higher in early trading on Monday, supported by
expectations of a US interest rate cut later this week. However, gains were
limited by weaker-than-expected economic data from China and ongoing concerns
over global demand.
Brent crude futures for November delivery rose 3 cents to $71.64 a
barrel as of 0402 GMT, while US crude futures for October gained 16 cents, or
0.2%, to trade at $68.81 a barrel.
