Basrah crudes dip despite global oil surge
2024-07-24 10:20:05 - From: Shafaq News
Shafaq News/ On Wednesday, Basrah Heavy and Medium crude oil declined despite an uptick in global markets.
Basrah Heavy crude dropped by 58 cents, settling at $77.35 per barrel, while Basrah Medium crude decreased by 56 cents to $80.28 per barrel.
This drop occurred even as global oil prices rose, breaking a three-session streak of declines, driven by decreasing US crude inventories and increased supply risks due to wildfires in Canada.
Brent crude futures for September rose 37 cents, or 0.5%, to $81.38 a barrel.
US West Texas Intermediate crude for September increased 38 cents, or 0.5%, to $77.34 per barrel.
