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Iraqi Oil Surges Past $71: What It Means for Global Markets

Iraqi Oil Prices Surpass $71 Per Barrel as Global Market Experiences Fluctuations

Iraqi oil prices experienced a notable increase on Friday, March 14, 2025, exceeding the $71 mark in the global marketplace. Current data indicates that Basra Crude has reached a price of $71.63 per barrel, while heavy crude is priced at $68.58 per barrel, both reflecting an upward change of $1.16.

Contrarily, there has been a slight decline in overall crude prices on the international stage. Brent crude is currently valued at $70.32 per barrel, and US West Texas Intermediate is trading at $67.00 per barrel, each reflecting changes of -$0.44 and -$0.45, respectively.

Crude Type Price (USD per Barrel) Change
Basra Crude $71.63 +$1.16
Heavy Crude $68.58 +$1.16
Brent Crude $70.32 -$0.44
West Texas Intermediate $67.00 -$0.45

The data underscores the dynamic nature of the oil market, highlighting both the strong performance of Iraqi crude oil amid fluctuations and the broader market’s volatility.

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