Basrah crude prices drop slightly
2024-10-28T07:39:36+00:00
Shafaq News/ On Monday, Basrah crude oil dropped, with the decline in global oil prices.
Basrah Heavy fell by $0.08 to $69.42 per barrel, while Basrah Medium decreased by $0.08 reaching $72.58 per barrel.
The recent drop in global oil prices comes after Israel’s strike on Iranian military facilities early in the week, which targeted key sites without disrupting energy supplies. This development has contributed to easing geopolitical tensions in the Middle East.
By 05:14 GMT, both Brent and US West Texas Intermediate (WTI) crude futures fell to their lowest levels since October 1 at the open. Brent crude was trading at $72.59 a barrel, down $3.46, or 4.6%, while WTI dropped $3.37, or 4.7%, to $68.41 a barrel.
