Iraqi Oil Prices Surpass $78 Per Barrel
During trading on Friday, February 21, 2025, Iraqi oil prices have surged past the $78 per barrel threshold in the global markets.
Data indicates that heavy Basra crude was valued at $75.91 per barrel, while the average price stood at $78.96, reflecting a slight increase of $0.17 per barrel for delivery in Nissan 2025.
The broader landscape of global crude prices exhibited some fluctuations. Brent crude oil was assessed at $76.35 per barrel, whereas the US West Texas Intermediate (WTI) was priced at $72.57 per barrel, with minor adjustments of $0.13 decrease and $0.32 increase, respectively.
The current price dynamics highlight the ongoing volatility in the oil market, influenced by multiple economic factors that impact supply and demand on a global scale.
| Type of Crude | Price ($/barrel) | Change |
|---|---|---|
| Heavy Basra | $75.91 | – |
| Average Iraq Oil | $78.96 | +0.17 |
| Brent Crude | $76.35 | -0.13 |
| US WTI | $72.57 | +0.32 |
As the global oil market continues to evolve, stakeholders are advised to monitor these trends closely for potential impacts on economic conditions and investment strategies.
