Basrah crudes inch lower despite global oil surge
2024-09-14T06:08:14+00:00
Shafaq News/ Basrah crude oil, both Heavy and Medium, recorded slight weekly losses despite global oil prices rebounding after a series of declines.
Basrah Heavy closed its last session on Friday with an increase of $0.88, reaching $67.42 per barrel, but registered a weekly loss of $1.95, or 1.34%.
Similarly, Basrah Medium rose by $0.88, closing at $70.42 per barrel, yet posted a weekly loss of $1.87, or 1.34%.
In contrast, both Brent and West Texas Intermediate (WTI) recorded weekly gains after consecutive weeks of losses. Brent crude posted a weekly increase of 0.7%, while WTI saw a rise of 1.3%, despite the challenges faced throughout the week.
