CommoditiesConsumer Goods

Iraqi Oil Prices Dip Below $75 Amid Global Market Changes

Iraqi Oil Prices Experience Decline in Global Market

On February 5, 2025, Iraqi oil prices faced a drop in the global market during the weekly trading cycle. Key data indicates that heavy Basra crude was priced at $72.38 per barrel, with the average price noted at $75.63 per barrel, reflecting a decrease of 0.68 for the delivery term of Nissan 2025.

Additionally, a slight reduction was observed in global crude prices. Specifically, Brent crude traded at $75.85 per barrel, while the U.S. West Texas Intermediate saw a price of $72.45 per barrel, both experiencing a decline of 0.61.

Type of Crude Price per Barrel ($) Change ($)
Heavy Basra Crude 72.38 -0.68
Average Price 75.63
Brent Crude 75.85 -0.61
U.S. West Texas Intermediate 72.45 -0.61

This decline in oil prices may signal broader market trends and implications for Iraqi oil revenue as it navigates the fluctuating landscape of global commodities.

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