Basrah crude ends week lower despite Friday gains

Shafaq News/ Basrah Heavy and Basrah Medium crude prices posted weekly losses of more than 1% despite finishing slightly higher in Friday’s trading session.

Basrah Heavy rose $0.36 to close at $64.51 a barrel, ending the week down $0.80, or 1.22%.

Basrah Medium also gained $0.36, settling at $68.46, with a weekly loss of $0.80, or 1.17%.

Globally, oil prices edged up at Friday’s close but ended the week more than 2% lower, weighed down by supply surplus expectations and ongoing uncertainty over US-China tariff talks.