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Iraqi Oil Prices Steady at $78 Amid Global Market Shifts

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.

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