Basrah crudes dip despite global oil stability
Shafaq News/ On Thursday, Basrah Heavy and Basrah Medium crudes dropped, despite global oil prices remaining stable.
Basrah Heavy crude fell by $3.36 to $69.30 per barrel, while Basrah Medium crude also declined by $3.36 to $72.30 per barrel.
Global oil prices remained steady after a wave of overnight selling, as traders assessed weakened demand alongside the potential delay in the expected increase of supply to the market next month.
Brent crude futures for November rose 35 cents, or 0.48%, to $73.05 a barrel after dropping 1.4% in the previous session to their lowest close since June 27, 2023.
US West Texas Intermediate crude futures for October were up 35 cents, or 0.51%, to $69.55 after dropping 1.6% on Wednesday to the lowest settlement since Dec. 11.
