Iraqi Oil Market Update: Prices as of March 17, 2025
On March 17, 2025, the Iraqi oil market commenced trading for the week with notable movements in pricing. Data reveals that Basra Crude reached $71.27 per barrel, while the heavy grade recorded $68.22 per barrel, both reflecting an increase of $0.36.
In parallel, global crude prices exhibited a slight upward trend. Brent Crude was priced at $71.10 per barrel, and West Texas Intermediate (WTI) showcased a value of $67.68 per barrel, with both experiencing changes of $0.50 and $0.52, respectively.
The following table summarizes the current pricing data:
| Crude Type | Price (per barrel) | Change |
|---|---|---|
| Basra Crude | $71.27 | +0.36 |
| Heavy Crude | $68.22 | +0.36 |
| Brent Crude | $71.10 | +0.50 |
| West Texas Crude | $67.68 | +0.52 |
This upward shift in oil prices underscores the ongoing volatility in the global market, influenced by various economic factors and geopolitical developments.
As this market evolves, stakeholders will be closely monitoring these trends to inform their strategic decisions in the energy sector.