Basrah crudes post weekly losses amid global declines
2026-05-30T07:38:45+00:00
Shafaq News- Basrah
Iraq’s Basrah crude plunged more than 56% over the past week, recording the sharpest losses among major global oil grades.
Basrah Heavy crude fell by $29.31 in its last trading session to $66.07 per barrel, posting a weekly loss of $37.79, or 57.12%, while Basrah Medium crude dropped by $29.31 to settle at $68.17 per barrel, recording a weekly loss of $38.79, or 56.90%.
Meanwhile, US West Texas Intermediate crude declined 1.43% to $87.63 per barrel, while Brent crude slipped 1.32% to $91.48. UAE Murban crude also fell 1.42%.
Other crude grades also posted losses, including Russia’s Urals crude, down 4.49%, and Mexico’s benchmark crude, which lost 4.42%. Angolan and Nigerian grades fell between 3% and 3.3%.
