Both heavy and medium Basra crudes concluded the week with overall losses, despite recording notable gains during the final trading session. Heavy Basra crude closed its dealings at $72.16 per barrel, achieving an increase in the final sessions by $3.95,
yet the weekly tally resulted in a drop valued at $2.41 compared to the week's opening price of $74.57. Similarly, medium Basra crude ended the week with a decline of $2.89, reaching $75.16 per barrel at closure, despite recovering in
the final session and rising by $3.65 compared to the start of trading which registered $78.05. Meanwhile, on the level of global energy markets, futures contracts witnessed slight movements, as West Texas Intermediate crude hit $91.69 per barrel registering a
slight increase of about 20 cents, while Brent crude reached $104.44 per barrel with an increase of 16 cents. These limited increases at the end of the week failed to compensate for the previous retreat, leaving the final outcome for
Basra crudes within the scope of weekly losses.
