Iraqi Oil Prices Conclude Weekly Trading
On February 1, 2025, Iraqi oil prices wrapped up another week of trading in the global market, maintaining a significant position amidst fluctuating crude oil trends.
Recent data indicates that heavy Basra crude oil has reached a price of $74.98 per barrel. The average price recorded for the same period stands at $78.23 per barrel, reflecting a positive change of 0.44. These figures pertain to contracts for delivery scheduled in March 2025.
In parallel, there has been a slight decline in global crude oil prices. Specifically, Brent crude is priced at $76.76 per barrel, while the U.S. West Texas Intermediate (WTI) has seen a price of $72.53 per barrel, both exhibiting a minor decrease of 0.20.
Crude Type | Price (USD/barrel) | Change |
---|---|---|
Basra Heavy Crude | $74.98 | +0.44 |
Average Price | $78.23 | |
Brent Crude | $76.76 | -0.20 |
U.S. West Texas Intermediate | $72.53 | -0.20 |
These developments underscore the ongoing dynamics in the oil market, as various factors influence both Iraq’s oil pricing and the broader trends seen in global commodity markets.