Basra: Prices of Basra Heavy and Basra Medium crude oil rose on Tuesday, despite the decline in global oil prices. Basra Heavy crude oil prices rose 98 cents, or 1.51%, to $65.68, while Basra Medium crude oil prices increased by $1.68, or 2.55%, to $67.53.

According to National Iraqi News Agency, oil prices fell, continuing the declines from the previous two sessions, as pressure from OPEC’s plans to increase production overshadowed optimism about a potential trade agreement between the United States and China. The rise in Basra crude prices contrasts with the broader trend in the global oil market, where prices have been under pressure due to increased production plans.