Iraqi Oil Prices Experience an Uptick in Global Markets
In trading on February 6, 2025, Iraqi oil prices have demonstrated a notable increase in the global market during the weekly evaluations. According to recent data, heavy Basra crude has reached a price of $73.30 per barrel, while the average price is reported at $76.55 per barrel, reflecting a change of 0.92+ respectively for the January 2025 delivery.
However, global crude prices have shown a slight contraction, with Brent crude priced at $74.70 and the US West Texas Intermediate (WTI) at $71.20 per barrel, both recording a change of 0.17-.
| Crude Type | Price per Barrel | Price Change | Delivery Month |
|---|---|---|---|
| Basra Heavy | $73.30 | 0.92+ | January 2025 |
| Brent Crude | $74.70 | 0.17- | N/A |
| West Texas Intermediate | $71.20 | 0.17- | N/A |
This development in Iraqi oil pricing reflects ongoing trends within the global crude market, highlighting the complexities and fluctuations inherent in this sector.
