Iraq's Basra crude oil prices rise more than 5% on global market gains

KUWAIT CITY, Kuwait — Iraq's Basra Heavy and Medium crude oil prices climbed in the latest session, tracking gains across OPEC member grades and a broader increase in global oil benchmarks. Basra Heavy rose by $3.27, or 5.29%, to $65.04 per barrel compared with the previous level. Basra Medium was priced at $68.34 per barrel, marking a $3.27, or 5.03%, increase. Global benchmarks also moved higher. Brent crude reached $91.65 per barrel, while West Texas Intermediate rose to $85.59 per barrel. The OPEC basket price, by contrast, edged down by 0.50% to $85.43. Within the wider OPEC basket, Arab Light crude was quoted at $85.09 per barrel and Kuwait Export crude at $82.81 per barrel, both also recording gains in the same session.