Basra Heavy and Medium Crude Prices Decline in Weekly Trading

Basra Heavy and Medium crude oil experienced a decline in their weekly prices, amid falling global oil market prices, despite some slight increases observed in intermittent trading sessions. At the end of the week, the price of Basra Heavy crude dropped by $1.65 per barrel, representing a 3.31% decrease, closing at $48.27 per barrel. Throughout the entire week, the crude recorded a loss of $11.82, a 24.49% reduction compared to the start of weekly trading. Similarly, Basra Medium crude saw a price decline of $1.65 per barrel, or 3.17%, closing at $50.37 per barrel. Its total weekly losses amounted to $6.82, a decrease of 13.54%.