Iraqi Oil Prices Decline Amid Global Market Trends
On Thursday, March 6, 2025, a notable decrease in Iraqi oil prices was observed in morning transactions within the global market.
According to market data, Basra Crude was recorded at $71.66 per barrel, while Heavy Crude stood at $68.61 per barrel, reflecting a decline of $0.46 for both, for delivery scheduled in May 2025.
Additionally, the data indicated a broader downturn in crude oil prices worldwide. Brent Crude settled at $69.66 per barrel, while the US West Texas Intermediate (WTI) recorded a price of $66.65 per barrel, each marking a change of $0.36.
| Oil Type | Price per Barrel ($) | Change ($) | Delivery Date |
|---|---|---|---|
| Basra Crude | 71.66 | -0.46 | May 2025 |
| Heavy Crude | 68.61 | -0.46 | May 2025 |
| Brent Crude | 69.66 | -0.36 | – |
| West Texas Intermediate | 66.65 | -0.36 | – |
The ongoing fluctuations in oil prices reflect the complex dynamics of the global energy market, impacting export-dependent economies like Iraq.
