Iraqi Oil Prices Stabilize Amid Global Market Fluctuations
In the latest trading session, Iraqi oil prices have stabilized at approximately $78 per barrel. This comes as Basra heavy crude is reported at $75.34 per barrel, while the overall average for Iraqi oil stands at $78.59 per barrel, reflecting a minor decline of $0.26 in March 2025 delivery contracts.
Recent data indicates a slight downturn in global crude prices. Brent crude is currently priced at $76.52 per barrel, while West Texas Intermediate, a benchmark for U.S. oil prices, is trading at $72.65 per barrel, also marking a decline of $0.22.
Oil Type | Price per Barrel | Change |
---|---|---|
Iraqi Oil Average | $78.59 | – $0.26 |
Basra Heavy Crude | $75.34 | N/A |
Brent Crude | $76.52 | – $0.22 |
West Texas Intermediate | $72.65 | – $0.22 |
As the market continues to react to various geopolitical and economic factors, these trends illustrate the ongoing challenges faced in the oil sector.