Basra crude achieves weekly gains exceeding 2%

Basra crude "heavy and medium" achieved weekly gains exceeding 2%, in light of global oil prices achieving gains for the second week in a row. Basra heavy crude closed in its last session yesterday, Friday, with an increase of 49 cents to reach $ 69.39 per barrel, recording weekly gains of $ 2.3, equivalent to 2.92%. Basra medium crude also closed in its last session with an increase of 49 cents to reach $ 72.39 per barrel, achieving weekly gains of $ 2.3, or 2.92%. Despite the decline in oil prices at the end of trading yesterday, Friday, they recorded gains for the second week in a row, supported by the reduction of US interest rates and the decline in global inventories. Brent crude achieved weekly gains of 4%, while West Texas Intermediate crude recorded weekly gains of 4.9%. Source: National Iraqi News Agency