Basrah crudes drop amid global oil decline
Shafaq News/ On Tuesday, prices for both Basrah Heavy and Basrah Medium crude oil fell, in line with a broader decline in global oil prices.
Basrah Heavy crude oil prices decreased by $1.18, settling at $66.11 per barrel. Similarly, Basrah Medium crude oil prices dropped by $1.18 to $69.26 per barrel.
Despite the decline, oil prices managed to hold on to most of their gains from the previous session, buoyed by increasing geopolitical risks following the fall of Syrian President Bashar Al-Assad and China's commitment to enhance stimulus policies, which helped support prices.
Brent crude futures were down 32 cents, or about 0.4%, at $71.82 per barrel. US West Texas Intermediate crude futures were down 37 cents, 0.5% lower, at $68. Both benchmarks climbed more than 1% on Monday.
