Basrah Crude prices fall as global oil market decline
2024-09-03T07:09:06+00:00
Shafaq News/ On Tuesday, Basrah crude oil dropped with a decrease in global oil prices.
Basrah Heavy crude edged lower by $3.25 to $71.41, and Basrah Medium also dropped by $3.25 to $74.41.
Oil prices fell as concerns about falling demand due to a slowing Chinese economy outweighed the impact of the closure of oil production facilities in Libya.
By 0156 GMT, Brent crude futures fell by 37 cents, or 0.48%, to $77.15 per barrel, while U.S. West Texas Intermediate (WTI) crude edged up by 28 cents from its Friday close, reaching $73.83 per barrel. Due to the Labor Day holiday, the U.S. market did not have a settlement on Monday.
