Basra Crudes End Week Down Despite Global Oil Price Rises

Basra's heavy and medium crude oil grades recorded weekly losses, coinciding with a decline in global oil markets, despite a rise in crude prices during the latest daily trading sessions. Basra Heavy crude dropped by 16 cents, or 0.27%, in its last trading session, closing at $60.09 per barrel. Its total weekly losses reached 96 cents, equivalent to a 1.57% decrease compared to the start of the week. Similarly, Basra Medium crude fell by $5.16, or 8.28%, in its last session, closing at $57.19 per barrel. Its weekly losses amounted to $5.96, representing a 10.42% decline. In contrast, global oil prices saw an increase in today's trading, with Brent crude rising by 32 cents (0.45%) to $72.12 per barrel, and U.S. West Texas Intermediate (WTI) crude gaining 9 cents (0.13%) to reach $68.78 per barrel.