Basra: Basra “heavy and medium” crude incurred slight losses during the past week, with weekly losses recorded for the two crudes (Brent and West Texas). Basra heavy crude closed in its last session at an increase of $1.13, reaching $69.11, and recorded slight weekly losses of 36 cents, equivalent to 0.52%. Basra medium crude also closed in its last session at an increase of $1.13, reaching $72.26, and also recorded weekly losses of 36 cents, equivalent to 0.50%.

According to National Iraqi News Agency, globally, oil recorded weekly losses, as Brent crude recorded weekly losses of 3.8%, while US West Texas Intermediate crude also recorded weekly losses of 3.2%.