Basrah Crude posts weekly losses despite global gains
2025-05-17T07:31:34+00:00
Shafaq News/ Both Basrah Heavy and Basrah Medium crude prices ended the week with losses exceeding 1%, despite recording modest gains in Friday’s trading session.
Basrah Heavy fell by $0.75 on Friday to close at $60.49 per barrel, posting a weekly loss of $0.67, or 1.1%.
Basrah Medium closed at $63.64 per barrel, down $0.67, or 1.04%, after dropping $0.57 in Friday’s session.
Globally, Brent crude and US West Texas Intermediate (WTI) recorded weekly gains of around 1%. The uptick was supported by a temporary trade agreement between the United States and China aimed at easing tensions in the ongoing trade war. The 90-day deal includes reciprocal tariff reductions, which boosted investor sentiment across global markets.
