2025-04-12T06:19:41+00:00

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Shafaq News/ Iraq’s Basrah crude oil recorded
sharp weekly losses for the second consecutive week, despite closing higher in
the latest trading session on Friday.

Basrah Heavy rose by $1.44 on Friday, ending the
session at $61.69 per barrel. However, it registered a weekly decline of $5.28,
or 7.88%.

Basrahl Medium also gained $1.44 during Friday’s
session, closing at $70.02 per barrel. It posted a weekly loss of $5.18,
equivalent to 7.4%.

Global oil markets faced their second straight
week of losses, weighed down by persistent concerns over the prolonged trade
tensions between the United States and China.

Brent crude slipped by more than 1% over the
week, while West Texas Intermediate (WTI) registered a similar decline. Both
markers had seen sharper drops of around 11% the previous week.