Basrah crudes surge following global oil rise
2024-07-29T08:27:49+00:00
Shafaq News/ On Monday, Basrah crude oil increased alongside a surge in global oil prices.
Basrah Heavy crude edged higher by $0.09 to $77.46, while Basrah Medium also rose by $0.09 to $80.35.
Global oil prices rose, narrowing last week's losses due to concerns about an escalation of conflict in the Middle East following a rocket attack on the Israeli-occupied Golan Heights. Israel and the United States have blamed the Lebanese militant group Hezbollah for the attack.
Brent crude futures rose by 33 cents, or 0.4%, to $81.46 a barrel at 0425 GMT. U.S. West Texas Intermediate (WTI) crude futures increased by 23 cents, or 0.3%, to $77.39 a barrel.
