Basra crude oils, both heavy and medium, concluded the week with significant weekly gains, despite their prices falling in the final trading sessions. This performance coincided with a broader decline in global oil prices, amidst markets closely monitoring geopolitical developments
and disruptions in shipping and supply in the region. Basra Heavy crude dropped by 80 cents (0.96%) in its last session, closing at $82.66 per barrel. However, it achieved weekly gains totaling $8.14 (10.93%), compared to its level of $74.52 per
barrel at the start of the week. Basra Medium crude also fell by 80 cents (0.92%), concluding at $85.98 per barrel. Yet, it recorded weekly gains of $8.16 (10.49%), compared to its initial price of $77.82 per barrel at the week's
opening. Globally, West Texas Intermediate (WTI) crude declined by $0.66 (0.72%) to reach $90.64 per barrel. Brent crude also fell by $0.14 (0.1%), settling at $95.38 per barrel.
