Iraqi Oil Prices Surge Amid Global Trends
On Tuesday, March 4, 2025, Iraqi oil prices experienced a significant uptick in morning trading within the global market, surpassing both Brent and West Texas Intermediate benchmarks.
Key data indicates that Basra Crude reached a price of $74.23 per barrel, while the heavy crude variant was recorded at $71.18 per barrel, with both exhibiting a decline of $0.97 for futures delivery in May 2025.
In contrast, global crude prices showed a downward trend, with Brent crude priced at $71.07 per barrel, and West Texas Intermediate measuring $68.02 per barrel, reflecting changes of $0.77 and $0.48, respectively.
| Type | Price per Barrel | Change |
|---|---|---|
| Basra Crude | $74.23 | -$0.97 |
| Heavy Crude | $71.18 | -$0.97 |
| Brent Crude | $71.07 | -$0.77 |
| West Texas Intermediate | $68.02 | -$0.48 |
These developments in oil pricing are indicative of the continuing fluctuations in the global energy market, where regional prices often vary based on supply and demand dynamics. The analysis reflects ongoing trends that professionals in the sector will need to monitor closely.
