Shafaq News/ Prices for Basrah Heavy and Basrah Medium crude oils fell, on Wednesday, despite stability in the global oil market.
Basrah Heavy crude dropped by $1.79 to $66.01 per barrel, while Basrah Medium also saw a $1.79 decrease, reaching $69.16 per barrel.
Oil prices held at more than one-month lows, after sliding in the previous two sessions, as markets weighed a potential ceasefire between Israel and Hezbollah and rising OPEC+ crude supplies against a possible drop in US fuel stocks.
Brent crude futures gained 38 cents, or 0.5%, to $71.50 a barrel. US West Texas Intermediate crude futures rose 43 cents, or 0.6%, to $67.64 per barrel.