2025-05-17T07:31:34+00:00

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Shafaq News/
Both Basrah Heavy and Basrah Medium crude prices ended the week with losses
exceeding 1%, despite recording modest gains in Friday’s trading session.

Basrah Heavy
fell by $0.75 on Friday to close at $60.49 per barrel, posting a weekly loss of
$0.67, or 1.1%.

Basrah
Medium closed at $63.64 per barrel, down $0.67, or 1.04%, after dropping $0.57
in Friday’s session.

Globally,
Brent crude and US West Texas Intermediate (WTI) recorded weekly gains of
around 1%. The uptick was supported by a temporary trade agreement between the
United States and China aimed at easing tensions in the ongoing trade war. The
90-day deal includes reciprocal tariff reductions, which boosted investor
sentiment across global markets.