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Commodities

Middle East Tensions Drive Up Basrah Crude Prices

Guavy AI Editorial Team
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Oil
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Basrah Heavy and Basrah Medium crude oil prices rose on Tuesday in response to growing concerns over Middle East supply amid fading prospects for an agreement to end the US-Iran conflict.

The price of Basrah Heavy increased by $0.39, or 0.64%, to $61.77 per barrel, while Basrah Medium climbed by $0.39, or 0.60%, to $65.07.

Globally, Brent crude futures rose by 62 cents, or 0.7%, to $91.49 a barrel, after reaching their highest since July 30 on Monday.

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