Basrah crude posts weekly loss of over 3%

Shafaq
News – Baghdad

Iraq’s
Basrah Heavy and Basrah Medium crude grades both ended the week with losses of
more than 3 percent.

Basrah
Heavy fell by $0.38 on Friday to close at $64.81 per barrel, posting a weekly
decline of $2.10, or 3.14 percent. Basrah Medium closed at $70.11 per barrel,
down $0.38 on the day and $2.11 for the week, a loss of 3.01 percent.

International
benchmarks also retreated. Brent futures dropped $1.44, or 2.15 percent, to
settle at $65.55 a barrel. US West Texas Intermediate (WTI) fell $1.61, or 2.54
percent, to $61.87 a barrel.