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Basrah crude prices dip as global oil market saw an increase

Basrah crude prices dip as global oil market saw an increase
Basrah crude prices dip as global oil market saw an increase

2024-08-15 11:00:06 - From: Shafaq News


Shafaq News/ Basrah crude oil prices dropped on Thursday, with an upturnin global oil prices.

The price of Basrah Heavy crude decreased by 51 cents to $75.76 perbarrel. Basrah Medium crude prices also fell by 51 cents, reaching $78.76 perbarrel.

Global benchmark Brent crude futures settled higher at $82.30 a barrel,gaining $2.64, or 3.3%, while US West Texas Intermediate crude futures settledat $80.06 a barrel, up $3.22, or 4.2%.

Globally, Brent crude futures rose 17 cents, or 0.21%, to$79.93 a barrel by 0348 GMT, recovering some of the previous day's losses. USWest Texas Intermediate crude gained 21 cents, or 0.27%, to $77.19 per barrel.

Both benchmarks dropped more than 1% on Wednesday after UScrude inventories unexpectedly increased and concerns about a broader MiddleEast conflict eased.