Iraq's Basra heavy crude falls below $50 a barrel

DUBAI, United Arab Emirates — Iraq's Basra Heavy crude dropped 4.09% to $45.78 a barrel in Wednesday trading, slipping under the $50 mark. Basra Medium also declined, falling 3.91% to $47.88 a barrel, moving in line with broader global losses. Benchmark Brent crude fell 0.71% to $76.53 a barrel, while U.S. West Texas Intermediate crude slipped the same percentage to $72.69. Regional grades also closed lower, with the United Arab Emirates' Murban crude down 1.64% to $69.63, Saudi Arabia's Arab Light off 2.52% to $78.69, the UAE's Das crude falling 2.90% to $69.31 and Qatar's Marine crude losing 2.91% to $69.01 a barrel. The OPEC basket price slipped 1.89% to $81.59 a barrel, while Dubai crude was recorded at $80.35, down 1.15% on the day.