Basrah Crude Prices Drop Over 6% on Global Oil Markets

Basrah crude prices took a hit on the global oil markets last week. The Basrah Heavy and Basrah Medium crudes closed lower, each losing $5.84 per barrel after their final trading session.

The Basrah Heavy fell by $0.80 on Saturday to settle at $90.27 per barrel, marking a weekly loss of 6.47%. Meanwhile, the Basrah Medium declined by $0.80 in its last session, closing at $93.57 per barrel and ending the week down 6.24%.

On global markets, West Texas Intermediate (WTI) crude stood at $100.89 a barrel, down $1.02 or 1.00%, while Brent crude dropped $1.05 or 1.00% to $103.77 a barrel.