Iraq's Basra crude gains nearly 10% tracking global oil rally

DUBAI, United Arab Emirates — Iraq's Basra Heavy and Medium crude posted sharp gains on Tuesday, tracking a broader rise across global energy markets. Basra Heavy rose $4.81 to $53.08 a barrel, up 9.97%, while Basra Medium added $5.01 to reach $55.38 a barrel, a 9.95% increase, according to market data. The gains came alongside a wider uptick in international benchmarks. Brent crude climbed $1.40 to $84.70 a barrel, and West Texas Intermediate rose $1.48 to $79.51. Other Gulf crude grades also advanced. Saudi Arabia's light crude gained 4.14% to $71.89 a barrel, Kuwait Export Blend rose 6.08% to $76.03, and the UAE's Murban crude increased 3.05% to $80.52. Against the regional trend, the OPEC basket price slipped 2.19% to $76.25 a barrel, and Dubai crude fell 1.77% to $69.24.