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Basrah Crude: Heavy Losses

2024-07-06 12:51:38

Basrah heavy crude recorded slight losses, while medium crude recorded slight gains during the past week, with global oil recording gains for the fourth week in a row.

Basrah Heavy crude concluded its latest session on Friday with an decrease of $0.42, closing at $82.98. This downturn resulted in a weekly loss of $0.73 or 0.87%.

Basrah Medium crude dropped by $0.42, settling at $85.56 in its recent session. Its weekly gains amounted to $0.27 or 0.87%.

On Friday, Brent crude futures fell 89 cents, or 1.02%, to settle at $86.54 a barrel, after reaching their highest level since April earlier in the session. U.S. West Texas Intermediate (WTI) crude futures settled at $83.16 a barrel, down 72 cents, or 0.9%.

For the week, Brent crude posted a gain of 0.4%, while WTI futures rose 2.1%.

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