Basra: Basra Heavy and Medium crude oil prices have seen an increase even as global oil markets remain stable. According to National Iraqi News Agency, Basra Heavy crude prices saw an uplift of 18 cents, reaching $69.80, while Medium crude prices also rose by 18 cents, settling at $72.82. This rise in local crude prices comes despite the overall stabilization of global oil markets. Last week, global oil prices experienced a significant drop, falling more than 7% due to concerns about demand from China, the world's largest oil importer. Additionally, the decrease in geopolitical tensions in the Middle East has also contributed to the stabilization of global oil prices.