Basrah crude posts weekly loss of over 6%
2025-08-09T07:01:06+00:00
Shafaq News – Baghdad
Both Basrah Heavy and Basrah Medium crude prices ended the week with losses exceeding 6% amid economic concerns.
Basrah Heavy fell by $0.87 on Friday to close at $64.73 per barrel, recording a weekly drop of $4.55, or 6.57%.
Basrah Medium declined by the same daily margin to $67.98 a barrel, down $4.35 for the week, or 6.01%.
Despite stabilizing in Friday’s settlement, oil prices registered their steepest weekly decline since late last month, pressured by reports of a potential US–Russia deal to end the war in Ukraine and the impact of tariffs on global economic outlooks.
