Basrah crude records over 20% weekly gains
2026-03-07T07:14:47+00:00
Shafaq News- Basrah
Iraq’s Basrah crude grades posted weekly gains exceeding 20% last week.
Basrah Heavy crude advanced $7.42 in the latest session on Friday to $82.62 per barrel, bringing its weekly increase to $15.15, or 22.45%. Basrah Medium crude gained $7.42 to $84.57 per barrel, with weekly gains reaching $14.18, or 20.14%.
Global oil benchmarks also climbed 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 $7.28 higher, or 8.52%, at $92.69 a barrel, while US West Texas Intermediate (WTI) rose $9.89, or 12.21%, to $90.90 a barrel.
