Basrah crude prices surge as global oil decline
2025-02-13T05:52:52+00:00
Shafaq News/ Basrah crude oil prices surged on Thursday despite a global downturn in oil prices.
Basrah Heavy crude rose by 89 cents, or 1.18%, to $76.31 per barrel, while Basrah Medium crude gained 79 cents, or 1.01%, reaching $79.36 per barrel.
Iraq and Saudi Arabia have raised their crude oil prices for Asian markets, driven by reduced Russian supply to the region due to sanctions imposed by the United States and the European Union.
By 01:41 GMT, Brent crude futures fell by $0.55, or 0.73%, to $74.63 a barrel, while US West Texas Intermediate (WTI) crude dropped $0.52, or 0.73%, to $70.85 per barrel.
