Basra Crude Sees Declines Amidst Mixed Performance in Global Oil Markets
In the past week, Basra crude, both in its heavy and medium grades, experienced a downturn in market value.
Market Performance of Basra Heavy Crude
In the most recent trading session on Friday, Basra heavy crude settled at $74.53, reflecting an increase of 34 cents. However, a weekly analysis reveals a total loss of 44 cents, which is approximately 0.59% from the previous week.
Mediterranean Crude Movement
Similarly, Mediterranean crude concluded its last session with an uptick of 34 cents, reaching a price of $77.58. Over the course of the week, Mediterranean crude also faced a decline, recording a loss of 54 cents, or 0.69%.
Broader Market Trends
In contrast, Brent crude witnessed a modest weekly increase of around 0.5%. West Texas Intermediate (WTI) crude, on the other hand, saw a negligible rise of about 0.01%.
Summary of Crude Oil Prices
| Crude Type | Last Session Price | Weekly Change | Weekly Percentage Loss |
|---|---|---|---|
| Basra Heavy Crude | $74.53 | -$0.44 | -0.59% |
| Mediterranean Crude | $77.58 | -$0.54 | -0.69% |
| Brent Crude | – | +0.5% | – |
| West Texas Intermediate | – | +0.01% | – |
As the global oil market fluctuates, the performance variations among different crude types underscore the complexities and challenges faced by oil-producing regions.
