2025-08-12T07:23:14+00:00

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Shafaq News – Baghdad

Iraq’s Basrah crude prices fell on Tuesday
despite an uptick in global oil markets.

Basrah Heavy
dropped by $0.87, or 1.33%, to settle at $64.73 per barrel, while Basrah Medium
declined by the same margin, or 1.26%, to $67.98 per barrel.

Globally, oil
prices rose as the United States and China extended the suspension of planned
tariff increases, easing fears that escalating trade tensions could harm their
economies and reduce fuel demand in the world’s two largest oil consumers.

As of 00:15 GMT,
Brent crude futures edged up by 26 cents to $66.89 a barrel, while US West
Texas Intermediate (WTI) rose 22 cents to $64.18 a barrel.