Basrah crudes post weekly gains as global oil prices decline
2026-04-18T07:33:22+00:00
Shafaq News- Basrah
Basrah Heavy and Basrah Medium crude closed higher last week, recording gains despite a sharp decline in global oil prices.
Basrah Heavy rose by 76 cents in the latest trading session to $116.59 per barrel, posting weekly gains of $1.62, or 1.41%. Basrah Medium also increased by 76 cents to $118.69 per barrel, registering weekly gains of $1.62, or 1.38%.
Global oil prices, however, recorded a dip, falling by 16% over the week, marking their worst weekly performance since April 2020, following Iran’s announcement of reopening the Strait.
