Iraqi Oil Prices Remain Stable Above $78 Per Barrel
Iraqi oil prices commenced trading today, Wednesday, February 12, 2025, maintaining stability above the $78 per barrel threshold.
According to the latest data, heavy Basra crude is priced at $75.42 per barrel, while the average crude price is recorded at $78.57 per barrel, indicating a slight increase of $0.45. These figures are pertinent for contracts set for delivery in May 2025.
Additionally, global crude prices also saw a modest uptick, with Brent crude reaching $76.70 per barrel. The US West Texas Intermediate (WTI) is valued at $72.99 per barrel, reflecting an increase of $0.33 for both benchmarks.
| Crude Type | Price (USD per Barrel) | Change (USD) |
|---|---|---|
| Heavy Basra | $75.42 | N/A |
| Average Crude | $78.57 | +0.45 |
| Brent Crude | $76.70 | +0.33 |
| West Texas Intermediate | $72.99 | +0.33 |
This stability and modest increase in crude prices indicate a consistent demand in the global market, highlighting the ongoing significance of Iraqi oil production in the broader energy landscape.
