Basrah crudes decline despite global oil surge
2024-05-02 10:20:05 - Source: Shafaq News
Shafaq News / Despite
the global oil price surge, Basrah Heavy and Basrah Medium crude oil prices
dropped on Thursday.
Basrah Heavy crude oil
prices fell by 82 cents to $85.31, while Basrah Medium crude oil prices dropped
by 82 cents to $88.51.
Global oil prices rose
amid expectations that the United States would start buying oil to replenish
its reserves after prices plummeted to a seven-week low.
This coincides with
hopes for a ceasefire in Gaza, rising US inventories, and uncertainty about
interest rate cuts in the United States.
