Basra: Basra Heavy and Basra Medium crude oil closed with price losses for the past week.

According to National Iraqi News Agency, Basra Heavy crude oil rose 7 cents to $63.35 in its last trading session on Friday, but recorded a weekly loss of 40 cents, or 0.63%.

Basra Medium crude oil also rose 7 cents to $65.80 in its last trading session, but recorded a weekly loss of 40 cents, or 0.61%.

Both Brent and US crude oil are on track for their first weekly decline in over a month, currently down more than 3% from their near six-month highs, as concerns about supply disruptions in the Middle East ease and investors focus on the outcome of US-Iranian nuclear talks.