Shafaq News/ The price of Basra's crude oil rose on Wednesday despite downward trend in global oil prices.
Heavy Basra crude saw a $0.77 uptick today, settling at $77.4 per barrel. Similarly, the Intermediate Basra crude gained $1.2, to reach $80.34 per barrel.
Basra crude prices are linked to the central benchmark crudes - Brent, US crude, Dubai, and Oman. Iraqi crude is sold to Asia based on the Dubai and Oman crude pricing, to Europe in accordance with Brent pricing, and to the United States as per the American crude price metrics.