Basrah crude prices rise over 1% despite global oil decline

Basrah crude prices rise over 1% despite global oil decline
2025-01-09 06:57

Shafaq News/ On Thursday, Basrah crude oil prices climbed more than 1%, defying a global downturn in oil markets.

Basrah Heavy crude increased by $0.9, or 1.32%, to $73.82 per barrel, while Basrah Medium crude climbed by $0.9, or 1.26%, to settle at $77.02 per barrel.

The global decline was attributed to rising US fuel inventories, signaling potential softening demand in one of the world’s largest energy markets.

By 04:09 GMT, Brent crude fell by 8 cents to $76.08 per barrel, while US West Texas Intermediate (WTI) futures declined by 11 cents to $73.21 per barrel, representing a 0.1% drop from the previous session.

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