Basra Crude Records Weekly Gains Amid Rising Global Prices

Basra heavy and medium crude recorded strong weekly gains, supported by rising global oil prices and supply concerns.

Basra Heavy rose to $114.97 per barrel after a $3.84 increase in the last session, posting weekly gains of $6.82.

Basra Medium reached $117.07 per barrel with similar gains, amid continued shipping restrictions through the Strait of Hormuz.

Globally, US crude rose to $98.5, while Brent reached $96.85 per barrel.