Basrah crudes rise as global decline
Shafaq News/ On Wednesday, the Basrah Heavy and Basrah Medium crude oils climbed despite ageneral decline in global oil markets.
Basrah Heavycrude rose by 89 cents to $72.39 per barrel, while Basrah Medium crude alsoclimbed 89 cents to $75.39 per barrel.
The uptickin Basra crude prices contrasts with the broader drop in global oil prices,driven by expectations of a resolution to the political conflict that hasdisrupted exports from major Libyan ports, alongside concerns about a potentialslowdown in global oil demand growth.
Brent crudefutures for November declined by 37 cents, or 0.5%, to $73.38 by 0330 GMT,following a 4.9% drop in the previous session. U.S. West Texas Intermediate(WTI) crude futures for October fell 41 cents, or 0.6%, to $69.93, after a 4.4%decline on Tuesday.
