Shafaq News/Iraq’s Basrah crude extended its weekly gains for the second consecutive week.
Basrah Heavyclosed Friday’s trading session up $2.24 at $70.04 per barrel, registering aweekly gain of $1.82 or 2.67%.
Similarly,Basrah Medium gained $2.24 in its last session to settle at $73.09 per barrel,marking a weekly increase of $2.26, or 3.19%.
Global oilbenchmarks Brent and US West Texas Intermediate (WTI) also ended the weekhigher, as US sanctions on Iran and a new OPEC+ output cut plan fueled expectationsof supply constraints.
Brent crudefutures climbed 16 cents, or 0.22%, to settle at $72.16 per barrel.
WTI crudefutures added 21 cents, or 0.31%, to close at $68.28 per barrel.
