Iraq's Basrah crude falls over 3%
2026-06-17T05:55:21+00:00
Shafaq News- Basrah
Iraq's two Basrah crude grades fell more than 3% on Wednesday, widening the discount against Arab producer benchmarks and pushing Basrah Heavy toward the $50 threshold.
Basrah Heavy dropped $2.05, or 3.83%, to $51.45 per barrel, while Basrah Medium declined $2.05, or 3.69%, to $53.55 per barrel.
Saudi Arab Light traded at $85.28 per barrel, Kuwait Export Crude at $94.84, the UAE's Murban at $71.81, and Qatar Land at $75.81, leaving both Basrah grades at least $18 below the cheapest Arab benchmark in Wednesday's session.
Brent crude fell to $78.71 per barrel, while West Texas Intermediate (WTI) declined to $75.71 per barrel.
