Basrah crude prices rise over 1% despite global oil decline
2025-01-09T06:57:44+00:00
Shafaq News/ On Thursday, Basrah crude oil prices climbed more than 1%, defying a global downturn in oil markets.
Basrah Heavy crude increased by $0.9, or 1.32%, to $73.82 per barrel, while Basrah Medium crude climbed by $0.9, or 1.26%, to settle at $77.02 per barrel.
The global decline was attributed to rising US fuel inventories, signaling potential softening demand in one of the world’s largest energy markets.
By 04:09 GMT, Brent crude fell by 8 cents to $76.08 per barrel, while US West Texas Intermediate (WTI) futures declined by 11 cents to $73.21 per barrel, representing a 0.1% drop from the previous session.
