Weekly Gains Recorded for Basra Heavy and Medium Crude

Basra heavy and medium crude concluded the week with notable gains, supported by price increases in the final trading session, coinciding with rising futures contracts in global oil markets. Basra heavy crude rose by $3.46 per barrel, or 4.99%, closing at $74.22 per barrel, achieving weekly gains of $4.14, equivalent to 5.91% compared to the start of the week at $70.08. Similarly, Basra medium crude increased by $3.46 per barrel, or 4.63%, closing at $78.22 per barrel, with weekly gains of $5.14, or 7.03%, compared to its level at the beginning of the week at $73.08 per barrel.