Shafaq News/Iraq’s Basrah crude logged weekly gains mirroring the global oil markets.
Basrah Heavyclosed Friday's trading session $1.6 higher at $69.29 a barrel, marking aweekly gain of $3.37 or 3.95%.
BasrahMedium rose $1.6 to settle at $72.44 per barrel, achieving a weekly increase of$3.37 or 3.77%.
Global crudebenchmarks also rallied. Brent crude posted a weekly gain of 5.8%, while USWest Texas Intermediate (WTI) crude climbed 6.4%.
Analystsattributed the uptick to escalating geopolitical tensions, including theintensifying Ukraine war and Russian President Vladimir Putin's warnings of apotential global conflict.