Iraqi Oil Prices Decline as Global Market Sees Variability
On Saturday, March 8, 2025, Iraqi oil prices experienced a notable drop at the close of weekly trading sessions in the global market.
Current Iraqi Oil Prices
Data shows that Basra Crude was priced at $70.83 per barrel, while the heavy crude variety was set at $67.78 per barrel, both reflecting a decrease of $0.85 for the May 2025 delivery.
Global Crude Oil Market Overview
In contrast, global crude prices exhibited a significant uptick. Brent crude reached $70.36 per barrel, and West Texas Intermediate (WTI) recorded a price of $67.04 per barrel, with increases of $0.90 and $0.68, respectively.
| Oil Type | Price per Barrel | Change | Delivery |
|---|---|---|---|
| Basra Crude | $70.83 | -$0.85 | May 2025 |
| Heavy Crude | $67.78 | -$0.85 | May 2025 |
| Brent Crude | $70.36 | +$0.90 | Current |
| West Texas Intermediate | $67.04 | +$0.68 | Current |
The fluctuation in prices indicates the ongoing complexities in the oil market landscape, influenced by various geopolitical and economic factors. As these trends develop, stakeholders in the oil industry will be closely monitoring price movements and their implications for the broader economy.
