Iraqi Oil Prices Hold Steady Amid Global Market Trends
On Monday, February 24, 2025, Iraqi oil prices exhibited stability, maintaining a rate of $79 per barrel in the early stages of trading on the global market.
Data reveals that heavy Basra crude is priced at $76.21 per barrel, while the overall average stands at $79.26 per barrel, reflecting a slight increase of $0.30 under the contract for delivery in Nissan 2025.
In contrast, global crude prices have seen a notable decline. Brent crude is currently priced at $74.31 per barrel, while the US West Texas Intermediate (WTI) trades at $70.20 per barrel, showing decreases of $0.12 and $0.20, respectively.
The following table summarizes the current pricing of various oil grades:
| Oil Type | Price per Barrel | Change |
|---|---|---|
| Iraqi Basra Crude | $76.21 | – |
| Average Oil Price | $79.26 | +$0.30 |
| Brent Crude | $74.31 | -$0.12 |
| West Texas Intermediate | $70.20 | -$0.20 |
This stability in Iraqi oil prices comes amid fluctuations in the broader oil market, highlighting the unique position that Iraqi crude holds in the global energy landscape.
