Iraqi Oil Prices Continue Downward Trend
As of today, February 28, 2025, Iraqi oil prices have experienced a decline for the third consecutive day in global commercial transactions.
Current Market Prices
Data indicates that Basra Crude is trading at $74.32 per barrel, while Mediterranean crude is recorded at $71.26 per barrel, reflecting a decrease of $0.29 for both grades, applicable for delivery in April 2025.
Global Crude Price Overview
The broader crude market is also witnessing reductions, with Brent crude priced at $73.70 per barrel. In the United States, West Texas Intermediate (WTI) is trading at $70.00 per barrel, showing a change of $0.34 for both benchmarks.
| Oil Grade | Price (USD per barrel) | Change (USD) | Delivery Month |
|---|---|---|---|
| Basra Crude | $74.32 | -0.29 | April 2025 |
| Mediterranean Crude | $71.26 | -0.29 | April 2025 |
| Brent Crude | $73.70 | -0.34 | Current |
| West Texas Intermediate | $70.00 | -0.34 | Current |
The ongoing fluctuations in oil prices reflect broader trends within the global market, underscoring the dynamic nature of commodity trading and its implications for the Iraqi economy.
