Iraqi Oil Prices Hit $79 Threshold Amid Global Market Shifts
On Saturday, February 22, 2025, Iraqi oil prices surpassed the $79 mark in the global trading arena. The heavy Basra crude was valued at $76.21 per barrel, while the average price rose to $79.26 per barrel, reflecting a slight increase of $0.30 in price.
In contrast, worldwide crude prices experienced a noticeable decline. Brent crude was recorded at $74.43 per barrel, and the West Texas Intermediate (WTI) crude fell to $70.40 per barrel, showing decreases of $2.05 and $2.08, respectively.
| Crude Type | Price per Barrel | Change |
|---|---|---|
| Basra Crude | $76.21 | +$0.30 |
| Average (Iraqi Oil) | $79.26 | +$0.30 |
| Brent Crude | $74.43 | -$2.05 |
| West Texas Intermediate | $70.40 | -$2.08 |
This fluctuation in oil prices highlights ongoing complexities in the global markets and their influence on national economies, particularly for oil-dependent countries like Iraq.
