Prices of Basra crudes decline amid weaker demand
2022-08-11T09:40:28+00:00
Shafaq News/ Oil prices fell in early Asian trade on Thursday as traders anticipated more supply of crude entering the market coupled with weaker demand.
Brent crude futures fell by 53 cents, or 0.5%, to $96.87 a barrel by 0005 GMT, while U.S. West Texas Intermediate crude futures fell 61 cents, or 0.7%, to $91.32.
The price of Basra's heavy and intermediate crudes to Asian consumers declined by $0.45, settling at $90.60 and $93.85, respectively.
