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Iraqi Oil Prices Rise: Weekly Market Update for February 2025

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.

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