Basrah Crude Prices Slide Amid Global Oil Market Gains

Basrah crude prices have dropped despite a gain in global oil markets. According to recent data, Basrah Heavy crude fell by $4.45 or 7.92% to $51.76 per barrel on Tuesday. Meanwhile, Brent futures rose by $1.12 or 1.3% to $84.89 a barrel.

The prices of Basrah Medium crude also decreased, dropping to $54.06 per barrel, down $4.45 or 7.61% compared to the previous session. US West Texas Intermediate crude gained 77 cents or 1% to $81.11 a barrel amid uncertainty over talks aimed at ending the US-Iran conflict and concerns over Middle East oil supplies.