Iraq’s Basrah crude falls over 6% after three-day rally
2026-05-13T07:15:18+00:00
Shafaq News- Basrah
Iraq’s Basrah crude fell nearly 7% on Wednesday, amid declines in global oil markets.
Basrah Medium crude fell to $110.07 per barrel, down 6.79%, while Basrah Heavy crude dropped to $107.97 per barrel, losing 6.91%.
Brent crude futures fell $1.22, or 1.1%, to $106.55 per barrel, while US West Texas Intermediate declined $1.16, or 1.1%, to $101.02.
The decline followed a three-day rally, amid investor anticipation over developments surrounding the fragile Middle East ceasefire, alongside preparations for a summit between US President Donald Trump and Chinese President Xi Jinping in Beijing.
