Basrah crude records weekly losses amid global oil gains
2024-10-26T06:21:07+00:00
Shafaq News/ Basrah crude oils recorded slight losses over the past week, even as global oil prices posted gains amid rising concerns over supply disruptions due to Middle East tensions.
Basrah Heavy closed Friday’s session down by 93 cents at $69.47 per barrel, marking a weekly loss of 10 cents, or 0.14%. Basrah Medium declined by 93 cents, ending at $72.62 per barrel, also posting a 0.14% weekly decrease.
Meanwhile, global oil benchmarks saw weekly gains driven by concerns over potential supply issues in the Middle East, the world's largest oil-producing region.
Brent crude registered a 4.1% weekly gain, while US West Texas Intermediate (WTI) crude rose by 4.5% over the same period.
