Basrah crude extends gains for 3rd consecutive week
2025-03-29 05:52
Shafaq News/ On Saturday, Basrah crude continued its upward trend for the third consecutive week, with both Heavy and Medium grades posting weekly gains.
Basrah Heavy closed Friday’s session up 41 cents at $71.33 per barrel, recording a weekly gain of $1.29, or 1.84%. Meanwhile, Basrah Medium rose 41 cents to $74.38 per barrel, marking a weekly increase of $1.29, or 1.76%.
Global benchmarks Brent and US crude also ended the week higher, supported by expectations of tightening global supply as the United States ramped up pressure on Venezuelan and Iranian oil trade.
