Basra crude sees modest weekly decline amidst global oil price gains
2024-01-13 09:45:06 - From: Shafaq News
Shafaq News/ Basra crude experienced marginal weekly losses despite a second consecutive week of global oil price increases.
Basra Heavy crude concluded its Friday session with a $1.46 uptick, settling at $71.75, yet recorded a slight 2.69% weekly decrease of $1.98.
Meanwhile, Basra Intermediate crude closed at $74.30, reflecting a similar $1.46 rise in its last session but also registering modest weekly losses of $1.98, equivalent to 2.06%.
Global oil prices are on track for a second consecutive week of gains, fueled by concerns over potential disruptions in crude supplies from the Middle East. The closure of Libya's largest oil field and the Red Sea ship crisis have heightened fears in the market.
