Iraqi Oil Prices Experience a Decline
Iraq’s oil prices have seen a drop of two dollars in today’s trading, following a brief surge that pushed them beyond the $79 mark yesterday.
In the latest market assessments, Basra heavy crude is priced at $74.19 per barrel. In contrast, the average cost of crude oil has been recorded at $77.24 per barrel.
Despite the decrease in Iraqi oil prices, global crude oil prices have shown an uptick compared to previous trading sessions. Brent crude is currently valued at $75.19 per barrel, while the West Texas Intermediate (WTI) crude stands at $70.40 per barrel.
| Crude Type | Price (Per Barrel) |
|---|---|
| Basra Heavy Crude | $74.19 |
| Average Crude Oil | $77.24 |
| Brent Crude | $75.19 |
| West Texas Intermediate | $70.40 |
This fluctuation in the oil market underscores the ongoing volatility in global energy prices, reflecting broader economic trends and geopolitical factors impacting supply and demand. As the market continues to evolve, stakeholders will be monitoring these changes closely.