Shafaq News/ The price of Basra's crude climbs on a weekly basis with more than a 6% gain.
Basra's heavy crude to Asian customers closed at $79.04, posting a weekly gain of $2.94.
Oil fell by more than $2 per barrel on Friday, swept up in a wider rout in global equities on fears of a looming recession, after central banks across Europe and North America signalled they will continue to battle inflation aggressively.
Brent crude futures settled at $79.04 per barrel, down $2.17 or 2.4%, while West Texas Intermediate futures fell by $1.82, or 2.4%, to settle at $74.29 per barrel.