Shafaq News/On Wednesday, Basrah crude oil prices climbed more than 5%.
Basrah Heavycrude increased by $3.74, or 5.08%, to $77.30 per barrel, while Basrah Mediumcrude climbed by $3.79, or 4.94%, to settle at $80.55 per barrel.
Oil pricesrose on Wednesday, recovering some of the losses from the previous day, asattention shifted back to the potential supply disruptions resulting fromsanctions on Russian tankers. However, the gains were limited as the marketawaited further clarity on the long-term impact of the sanctions.
By 05:15 GMT,Brent crude futures increased by 11 cents, or 0.1%, to $80.03 a barrel, after a1.4% drop in the previous session. US West Texas Intermediate (WTI) cruderose by 23 cents, or 0.3%, to $77.73 a barrel, following a 1.6% decline onTuesday.