Basrah Crude sees weekly gain despite global oil market losses
2024-08-31 09:30:06 - From: Shafaq News
Shafaq News/ Basrah crude oils posted weeklygains despite global oil prices facing weekly and monthly losses.
Basrah Heavy crude closed on Friday with anincrease of $1.14, reaching $74.66 per barrel, marking a weekly gain of $2.19,or 3.2%.
Basrah Medium crude ended the session with a riseof $1.14, reaching $77.66 per barrel and achieving a weekly gain of $2.19, or2.9%.
Global oil prices declined for the secondconsecutive week, weighed down by signs of weakening demand. Brent cruderecorded a weekly loss of 1.5% and a monthly decline of 4.7%. Meanwhile, U.S.West Texas Intermediate (WTI) crude fell by 1.7% over the week and 5.6% overthe month.
