Shafaq News / The prices of Basra Heavy and Intermediate crudes saw a decline, following the global trend of decreasing oil prices.
The price of Basra Heavy crude oil dropped by 30 cents to reach $91.41, while Basra intermediate crude oil prices fell by 20 cents to reach $94.46.
The decrease in oil prices can be attributed to investors seeking to cash in on profits after a recent global oil price surge last week. This surge was a result of the extension of production cuts by Saudi Arabia and Russia.