Iraqi Oil Prices Experience Weekly Gains
Iraqi oil prices concluded their weekly trading session on Saturday, February 8, 2025, with a notable increase, settling above $78 per barrel.
According to the latest data, heavy Basra crude was priced at $74.97 per barrel. The average price for oil during this period was recorded at $78.12 per barrel, reflecting a slight increase of $0.11 for the delivery in Nissan 2025.
In a broader context, global crude prices observed a minor decline. Brent crude was priced at $74.66 per barrel, while the West Texas Intermediate (WTI) recorded a price of $70.00 per barrel, both down by $0.37.
Summary of Oil Prices
| Type of Crude | Price per Barrel | Change |
|---|---|---|
| Heavy Basra Crude | $74.97 | – |
| Average Iraqi Oil Price | $78.12 | +$0.11 |
| Brent Crude | $74.66 | -$0.37 |
| West Texas Intermediate (WTI) | $70.00 | -$0.37 |
As these figures indicate, while Iraqi oil prices rose, the overall trend in the global market displayed some downward pressure on key benchmarks.
