Basrah crudes drop amid global oil decline
2024-05-23T06:30:34+00:00
Shafaq News / On Thursday, the prices of Basrah Heavy and Medium crude oils declined in line with the drop in global oil prices.
Basrah Heavy crude fell by 87 cents to $81.00, while Basrah Medium crude also decreased by 87 cents, settling at $83.95.
The decline in global oil prices followed the release of the Federal Reserve's meeting minutes, which revealed discussions about further interest rate hikes if inflation remains persistent—a move that could negatively impact oil demand.
