Weekly Gains in Basra Crude Oil Markets
Recent data indicates that Basra crude, specifically the "heavy and medium" grades, experienced notable gains over the past week, reflecting positive market trends.
Performance Overview
In the latest trading session on Friday, Basra heavy crude closed with an increase of 30 cents, bringing its price to $76.21 per barrel. This closure represents a weekly gain of $1.68, or approximately 2.25%.
Similarly, the Mediterranean crude also closed at a higher price, appreciating by 30 cents to reach $79.26 per barrel. Its weekly performance closed with a gain of $1.68, equivalent to a 2.17% increase.
Comparative Crude Oil Trends
Brent crude oil recorded a weekly increase of 0.4%, while West Texas Intermediate (WTI) saw a modest rise of about 0.5%. These figures underscore a general upward trajectory in global crude oil prices.
Table of Weekly Crude Oil Performance
| Crude Type | Price (USD) | Weekly Gain (USD) | Percentage Increase (%) |
|---|---|---|---|
| Basra Heavy Crude | 76.21 | 1.68 | 2.25 |
| Mediterranean Crude | 79.26 | 1.68 | 2.17 |
| Brent Crude | N/A | N/A | 0.4 |
| West Texas Intermediate | N/A | N/A | 0.5 |
Conclusion
The upward momentum in Basra crude prices reflects broader trends in the global oil market, highlighting the dynamics between regional and international crude benchmarks. As these price fluctuations continue to unfold, market participants remain vigilant, monitoring the developments that could further influence oil pricing structures.
