Iraqi Oil Market Update: Prices Stabilize Amid Global Trends
As of February 3, 2025, Iraqi oil prices have shown a stabilization in weekly trading within the global market, concluding the previous week at $78 per barrel.
Recent data indicates that heavy Basra crude is priced at $74.98 per barrel, while the average price across various benchmarks stands at $78.23 per barrel, reflecting a positive change of $0.44 for the delivery slated for Nissan 2025.
Furthermore, the data highlights a noteworthy increase in global crude prices. Brent crude is currently priced at $76.38 per barrel, and the West Texas Intermediate (WTI) has recorded a value of $73.92 per barrel, with respective changes of $0.72 and $1.40.
| Crude Type | Price per Barrel | Change |
|---|---|---|
| Heavy Basra Crude | $74.98 | – |
| Average Price | $78.23 | +$0.44 |
| Brent Crude | $76.38 | +$0.72 |
| US West Texas WTI | $73.92 | +$1.40 |
This stabilization and the upward trend in prices reflect ongoing dynamics in the oil market, influenced by various global economic factors.
