Basrah crudes record weekly gains
2025-06-07 05:55
Shafaq News/ Iraq’s Basrah crude grades posted strong weekly gains amid a broader global upswing in oil prices.
Basrah Heavy closed Friday’s trading session up 40 cents at $61.83 per barrel, registering a weekly gain of $1.46 or 2.42%.
Similarly, Basrah Medium gained 40 cents in its last session to settle at $64.68 per barrel, marking a weekly increase of $1.15, or 1.81%.
Global oil benchmarks Brent and US West Texas Intermediate (WTI) also ended the week higher. Brent crude futures climbed 2.75%, while WTI crude futures surged by 4.9%, reversing two weeks of consecutive losses.
