Basrah crude rises as global oil prices climb
2025-05-21T06:38:56+00:00
Shafaq News/ Basrah crude prices saw gains on Wednesday in line with a broader increase in global oil markets, driven by geopolitical tensions and concerns over stalled US-Iran nuclear talks.
Basrah Heavy crude rose by 57 cents or 0.93% to $61.60 per barrel, while Basrah Medium also increased 57 cents or 0.89% to $64.75 per barrel.
Global oil prices climbed amid heightened uncertainty in the Middle East, with speculation mounting over a potential Israeli strike on Iran and a lack of progress in nuclear negotiations between Tehran and Washington.
As of 00:03 GMT, Brent crude rose by $0.86 to $66.24 per barrel, while US West Texas Intermediate (WTI) crude gained $0.90 to $62.93 per barrel.
