Basrah Crude prices edge up amid global oil market rebound
2024-09-11 09:35:05 - From: Shafaq News
Shafaq News/ On Wednesday, Basrah crude climbed slightly,with a bouncing in global oil prices.
Basrah Heavy crude gained 28 cents to $66.72 perbarrel, while Basrah Medium crude edged higher by 8 cents to $69.72 per barrel.
Global crude prices rose as concerns over Tropical StormFrancine disrupting oil supply outweighed demand worries.
Brent crude futures increased by 39 cents, or 0.6%, to$69.58 a barrel by 0031 GMT, while U.S. crude futures rose 44 cents, or 0.7%,to $66.19 a barrel.
Both benchmarks had dropped nearly $3 on Tuesday, with Brentreaching its lowest level since December 2021 and WTI falling to its lowestpoint since May 2023, following OPEC+'s downward revision of its demandforecast for this year and 2025.
