Basrah crude ends week higher
Shafaq News- Basrah
Iraq’s Basrah crude grades posted weekly gains of more than 1% last week.
Basrah Heavy edged down by $13.60 in the latest trading session to $121.73 per barrel, while still recording a weekly gain of $1.36, or 1.13%. Basrah Medium also fell by $13.60 to $123.83 per barrel, posting a weekly gain of $1.36, or 1.11%.
Global oil benchmarks rose as investors assessed the impact of the US–Iran war on energy markets amid concerns over possible supply disruptions in the Middle East.
Brent crude futures settled $2.23 lower, or 2.02%, at $108.17 a barrel. US West Texas Intermediate (WTI) ended at $101.94 a barrel, down $3.13, or 2.98%. Despite the daily losses, both Brent and WTI were still set to close the week with gains of about 2.95%.
