Basrah crude posts weekly loss of over 6%

Shafaq News
– Baghdad

Both Basrah
Heavy and Basrah Medium crude prices ended the week with losses exceeding 6%
amid economic concerns.

Basrah Heavy
fell by $0.87 on Friday to close at $64.73 per barrel, recording a weekly drop
of $4.55, or 6.57%.

Basrah
Medium declined by the same daily margin to $67.98 a barrel, down $4.35 for the
week, or 6.01%.

Despite
stabilizing in Friday’s settlement, oil prices registered their steepest weekly
decline since late last month, pressured by reports of a potential US–Russia
deal to end the war in Ukraine and the impact of tariffs on global economic
outlooks.