Basrah crudes post weekly gains on Trump Iran threats
2026-01-24T07:00:27+00:00
Shafaq News– Basrah
Iraq’s Basrah Heavy and Basrah Medium crude grades ended the week with gains, despite both closing lower in Friday’s session.
Basrah Heavy fell by 92 cents in its final Friday trade to $59.74 a barrel, but still recorded a weekly gain of 86 cents, or 1.46%. Basrah Medium also declined by 92 cents on Friday to $62.19 a barrel, while posting a stronger weekly increase of $1.74, or 2.88%.
Global oil prices rose over the week after US President Donald Trump said Washington had a “massive fleet” heading toward Iran, while warning Tehran against killing protesters or resuming its nuclear program. Brent crude and US West Texas Intermediate both ended the week up about 1.6%.
