**Market Update: Basra Crude Prices Increase Amid Global Oil Price Fluctuations**
Today, there has been an uptick in the prices of Basra “heavy” and “medium” crude, despite a modest decline in global oil prices. Basra heavy crude has risen by 65 cents, translating to an increase of 0.87%, bringing the price to $75.74 per barrel. Similarly, Basra medium crude also experienced a rise of 65 cents, equivalent to 0.83%, reaching $78.79 per barrel.
In the broader market, Brent crude saw a slight increase of 22 cents, or 0.29%, with the price climbing to $75.82 per barrel. Meanwhile, American Texas crude recorded a gain of 30 cents, or 0.42%, now priced at $71.95 per barrel.
The overall dip in oil prices can be attributed to a recent industry report indicating a rise in U.S. crude inventories, further exacerbated by concerns over customs fees affecting market sentiment.
| Crude Type | Price Change | Percentage Change | Current Price (USD) |
|---|---|---|---|
| Basra Heavy Crude | +65 cents | +0.87% | $75.74 |
| Basra Medium Crude | +65 cents | +0.83% | $78.79 |
| Brent Crude | +22 cents | +0.29% | $75.82 |
| American Texas Crude | +30 cents | +0.42% | $71.95 |
