Iraq's Basra Crude Oil Prices Rise Over 7%

BAGHDAD, Iraq — Iraq's primary export crude grades, Basra Heavy and Basra Medium, saw significant gains on Thursday, with both increasing by more than 7%. Basra Heavy rose by $4.43 per barrel to reach $61.86, while Basra Medium increased by the same amount, rising 7.42% to $64.16. The gains aligned with a broader upward trend in global markets and the OPEC basket. Brent crude rose 2.10% to $96.05, and West Texas Intermediate increased 1.64% to $88.25. The OPEC basket price rose by $2.40 to $88.50 per barrel. Other regional benchmarks also climbed, including Saudi Arabia's Arab Light, which rose 6.84% to $82.92. The UAE's Das crude increased 8.81% to $88.07, and Qatar's Marine crude rose 8.84% to $87.77.