Basra: Basra Heavy and Medium crude oil prices rose slightly on Tuesday, despite the general decline in global oil prices. Basra Heavy crude rose by 3 cents, or 0.05%, to $59.62 per barrel, while Basra Medium crude rose by the same amount and percentage, reaching $60.77 per barrel.

According to National Iraqi News Agency, this slight increase comes amid declining oil prices due to concerns about oversupply and demand risks. The situation is further complicated by escalating tensions between the United States and China, the world’s largest crude oil consumers.