Basrah crude prices drop despite global oil market rally
2024-10-16 10:30:27 - From: Shafaq News
Shafaq News/ On Wednesday, Basrah crude oil prices edged lowerdespite an increase in global oil prices.
Basrah Heavy crude rose by $3.58 to $70.52 per barrel, and BasrahMedium crude by $3.58, reaching $73.67 per barrel.
Globally, oil prices inched higher on Wednesday amiduncertainty over what may happen next in the Middle East conflict, after demandconcerns knocked the market to its lowest since early October in the previoussession.
Brent crude oil futures rose 19 cents, or 0.3%, to $74.44 abarrel by 0630 GMT. U.S. West Texas Intermediate crude futures climbed 24cents, or 0.3%, to $70.82 per barrel, according to Reuters.
