Basra: Basra crude oil prices rose on Wednesday, mirroring the increase in global oil prices. Basra Heavy crude climbed to $65.04 per barrel, a rise of $3.27 or 5.29%, while Basra Medium crude rose to $68.34, an increase of $3.27 or 5.03%.
According to National Iraqi News Agency, oil prices rose for the fourth consecutive day amid the absence of any indication of progress toward resolving the trade war between the United States and Iran after nearly six months of conflict. Brent crude climbed to around $92 per barrel, having risen 4.5% over the previous three sessions, while West Texas Intermediate crude approached $86.
Brent crude for October delivery also rose by 0.9% to reach $91.87 per barrel early Wednesday morning.