Basrah Crude prices surge after weeks of steady decline
2024-08-17 11:00:07 - From: Shafaq News
Shafaq News/Basrah crude oil recorded weekly gains after a five-week streak of losses,buoyed by a broader recovery in global oil prices.
Basrah Heavycrude concluded its latest session on Friday with an increase of $0.77, closingat $75.55. This downturn resulted in a weekly gain of $2.30, or 2.61%.
BasrahMedium crude edged higher by $0.77, settling at $78.55 in its recent session,and registered a weekly gain of $2.30 or 2.60?%.
Globally,oil prices saw a second week of gains, driven by positive US economic data thateased investor concerns over a potential recession in the United States, the world'slargest oil consumer.
Brent crudesaw a weekly increase of 3.7%, while West Texas Intermediate (WTI) crude gained4.5%.
