Basra: Prices of Basra Heavy and Medium crude oil fell significantly, reaching more than 12%.

According to National Iraqi News Agency, Basra Heavy crude prices fell $8.10, or 12.10%, to $58.87, while Medium crude prices fell $8.10, or 11.57%, to $61.92. Oil prices have decreased in recent days due to the repercussions of US tariffs on several US trading partners. This situation has raised concerns about a slowdown in global economic growth and its impact on oil demand expectations.

OPEC has also restored some of its production, which has raised concerns about a potential supply glut. Brent crude oil prices reached $65.02 today, while US crude oil prices reached $61.61.