Basra crude falls as Iraq oil prices track global volatility

Iraq’s oil prices fell as global markets fluctuated, with Basra heavy crude dropping to $99.20 a barrel, down $4.66, or 4.49%. Basra medium crude also declined to $101.30, a fall of about 4.40%. In the same period, Brent rose to $97.83 a barrel, while U.S. West Texas Intermediate slipped to $91.47. Similar declines were seen across Gulf and Arab crude grades, including Saudi Arabia’s light crude and the United Arab Emirates’ Murban crude. The OPEC basket also edged down to $113.44, recording a 1.72% decrease.