Basra: Prices of both heavy and medium Basra crude oil fell on Wednesday, mirroring the decline in global oil prices. The price of heavy Basra crude dropped 66 cents, or 1.02%, to $64.02, while medium Basra crude fell 66 cents, or 0.99%, to $65.87.

According to National Iraqi News Agency, oil prices declined on Wednesday amid widespread selling in global financial markets, highlighting concerns about economic growth and fuel demand. These concerns were exacerbated by a stronger dollar and reports of rising US crude inventories.