Basrah crudes inch higher with a surge in global markets
2024-10-31 11:05:26 - From: Shafaq News
Shafaq News/Basrah crude oil climbed, on Thursday, mirroring the surge in the global oilmarket.
Basrah Heavycrude edged higher by $0.49 to $66.50 per barrel, while Basrah Medium also sawa $0.49 increase, reaching $69.65 per barrel.
Globally,oil prices rose on Thursday, extending the previous day's rally, driven byoptimism over US fuel demand after an unexpected drop in crude and gasolineinventories. Reports indicating that OPEC+ may delay a planned output increasealso provided support.
By 0505 GMT,Brent crude futures increased by 47 cents, or 0.65%, reaching $73.02 a barrel.Meanwhile, US West Texas Intermediate crude futures, set to expire later in theday, rose 43 cents, or 0.63%, to $69.04 per barrel.
