Basra crude records weekly gains of about 3%

Baghdad Basra crude closed with a weekly gain of about 3%, similar to other crude oil, which also recorded gains.

Basra Heavy crude closed in its last session on Friday, down by 45 cents, to reach $71.79, but it recorded a weekly gain of $2.03, equivalent to 2.91%.

While Brent crude closed in the last session on Friday, up by $2.94, to reach $83.92, and recorded significant gains amounting to $4.88, equivalent to 6.17%.

West Texas Intermediate (WTI) crude closed in its last session up by $2.07, to reach $79.65 a barrel, and recorded a weekly gain of $5.36, equivalent to 7.21%.

Oil prices rose yesterday, Friday, with the recovery of demand in China and with Russia’s threats to reduce its production by 700 thousand barrels, after setting its oil prices by the European Union and America.

Source: National Iraqi News Agency

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