Basrah crude climbs around 2%
Shafaq News- Basrah
Iraq’s Basrah crude prices rose around 2% on Tuesday, tracking gains in global oil markets, according to data reviewed by Shafaq News.
Basrah Heavy gained $1.55, or 1.87%, to $84.23 a barrel, while Basrah Medium advanced by the same amount, or 1.80%, to $87.53.
Brent futures added 49 cents, or 0.5%, to $97.49 a barrel. US West Texas Intermediate climbed $1.44, or 1.6%, to $92.92.
Among regional crude benchmarks, the UAE’s Murban crude gained $3.47, or 3.36%, to $106.77 a barrel, while Arab Light rose $2.16, or 2.45%, to $90.44.
The OPEC basket, however, fell 80 cents, or 0.81%, to $97.70 a barrel.
Bloomberg reported on Tuesday that Iraq was struggling to find buyers for crude loading in September after the State Oil Marketing Organization (SOMO) reduced discounts last week, effectively raising prices and potentially slowing an export recovery.
