Basrah crudes rise following global oil surge
2024-06-11T07:20:58+00:00
Shafaq News / Prices for Basrahs Heavy and Basrah Medium crude oils climbed on Tuesday, driven by an uptick in global oil markets.
Basrah Heavy crude increased by 15 cents to $78.03 per barrel. Meanwhile, Basrah Medium crude saw a rise of five cents to $80.88 per barrel.
Oil prices extended their gains for the second consecutive day, buoyed by expectations of increased seasonal fuel demand and potential purchases by the US to replenish its Strategic Petroleum Reserve.
This surge occurred despite a stronger dollar, which tempered the overall gains.
Brent crude futures fell 11 cents, or 0.13%, to $81.52 per barrel and US West Texas Intermediate crude futures slipped three cents, or 0.04%, to $77.71.
