Basrah Crude Prices Fall Amid Global Oil Benchmark Decline

The price of Iraq's Basrah crude oil dropped on Thursday due to a broader decline in major global oil benchmarks. The decrease was relatively small, with Basrah Heavy crude falling by 1.71% to $52.42 per barrel and Basrah Medium crude slipping by 1.64% to $54.72 per barrel.

The drop in Basrah crude prices followed a similar trend seen in Brent crude, which edged lower to $79.12 per barrel, losing 0.42%. US West Texas Intermediate (WTI) crude also declined, falling 0.56% to $74.80 per barrel.