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Iraqi Oil Prices Dip: February 2025 Trading Update

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.

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