Shafaq News/ On Tuesday, Basrah's Heavy and Medium crude prices dropped by over 2%, despite stable global oil prices.
Basrah Heavy crude fell by $2.32 to $66.44 per barrel, while Basrah Medium crude declined by $2.12 to $69.64 per barrel.
This comes as global oil markets stabilized, with the potential threat of a Gulf Coast hurricane and a recovery from a recent sell-off triggered by weaker-than-expected US jobs data on Friday.
Globally, Brent crude futures were down 4 cents, or 0.06%, to $72.80 a barrel, while US West Texas Intermediate (WTI) crude futures lost 10 cents, or 0.15%, to trade at $68.60 a barrel.