Despite the rise in oil globally… Basra crude oil prices decline

Basra heavy and medium crude oil prices fell today, Wednesday, despite a rise in global markets. Prices for Basra Heavy crude fell by 58 cents to reach $77.35, and prices for Basra Medium crude fell by 56 cents to reach $80.28. Oil prices rose today, Wednesday, after a decline that lasted for several days, supported by a decline in US crude inventories, but expectations of an imminent ceasefire in the Middle East prevented the rise from continuing. Source: National Iraqi News Agency