Iraqi Oil Prices Experience Notable Decline
As of February 4, 2025, Iraqi oil prices have witnessed a significant downturn in the global market.
According to current market data, heavy Basra crude is priced at $74.33 per barrel, with an average trading price of $77.58 per barrel, reflecting a decrease of $0.65. This pricing pertains to delivery in Nissan 2025.
In broader market trends, crude oil prices have also shown declines. Brent crude futures are trading at $75.18 per barrel, while U.S. West Texas Intermediate (WTI) crude is at $71.94 per barrel, registering reductions of $0.78 and $1.17 respectively.
This decrease in oil prices underscores the fluctuating nature of the global energy market, with price movements influenced by various economic factors.
Type | Price per Barrel | Change |
---|---|---|
Heavy Basra Crude | $74.33 | -$0.65 |
Average Price | $77.58 | – |
Brent Crude | $75.18 | -$0.78 |
U.S. West Texas Crude | $71.94 | -$1.17 |
The developments in oil pricing are critical for stakeholders in the energy sector as they navigate the implications of these changes in pricing on both local and global markets.