Basra crude "heavy and medium" achieved weekly gains exceeding 2%, in light of global oil prices achieving gains for the second week in a row. Basra heavy crude closed in its last session yesterday, Friday, with an increase of 49 cents to reach $ 69.39 per barrel, recording weekly gains of $ 2.3, equivalent to 2.92%. Basra medium crude also closed in its last session with an increase of 49 cents to reach $ 72.39 per barrel, achieving weekly gains of $ 2.3, or 2.92%. Despite the decline in oil prices at the end of trading yesterday, Friday, they recorded gains for the second week in a row, supported by the reduction of US interest rates and the decline in global inventories. Brent crude achieved weekly gains of 4%, while West Texas Intermediate crude recorded weekly gains of 4.9%. Source: National Iraqi News Agency
Recent Posts
US Historical Distortion Claims Dismissed by Iranian MP
October 16, 2026
Strait of Hormuz Closure Linked to Iran’s Rights, Says Army Chief
October 16, 2026
Imam Khamenei Honors Nurses on Lady Zeinab’s Birth Anniversary
October 16, 2026
Iranian Navy Detects Burning Oil Tanker in Strait of Hormuz
October 16, 2026
President Pezeshkian Attends Biodiversity Conference in Armenia
October 16, 2026
Iran Criticizes Colombia for Opening Embassy in Occupied al-Quds
October 16, 2026
Iran Expresses Concerns Over US Presence in Surrounding Region
October 16, 2026
President Pezeshkian Concludes Visit to Yerevan for COP 17
October 16, 2026