Basra: Basra Heavy and Basra Medium crude prices witnessed a decline, despite the stability of global oil prices. Basra Heavy crude prices fell by $1.79 to reach $66.01, and Medium crude prices fell by $1.79 to reach $69.16.

According to National Iraqi News Agency, oil prices stabilized during Asian trading on Wednesday, after industrial data showed a surprise decline in crude and gasoline inventories in the United States. This stabilization follows losses in the previous two sessions due to the possibility of a decline in the intensity of the conflict in the Middle East.