Commodities
Basrah Crude Oil Prices Plummet on Global Market
Basrah crude oil prices took a hit on the global market, closing the week lower. The decline was evident in both Basrah Heavy and Basrah Medium crude, each losing $5.84 a barrel after their final trading session.
Basrah Heavy fell by $0.80 on Saturday to settle at $90.27 per barrel, marking a weekly loss of 6.47%. Similarly, Basrah Medium declined by $0.80 in its last session, closing at $93.57 per barrel with a weekly drop of 6.24%.
On the global market front, West Texas Intermediate (WTI) crude stood at $100.89 a barrel, down by $1.02 or 1.00%. Brent crude also dropped by $1.05 or 1.00%, settling at $103.77 a barrel.