Basra: Basra crude oil recorded weekly gains as global oil prices rose.

According to National Iraqi News Agency, Basra Heavy crude closed down $1.29 to $67.29 per barrel, but achieved weekly gains of $1.18, equivalent to 1.78%.

Basra Medium crude also experienced a decline of $1.29 in its last session, closing at $69.11 per barrel, yet it managed to secure weekly gains of $1.28, equivalent to 1.85%.

Global oil prices saw a rise of about 3% at settlement, with Brent crude futures increasing by $1.72, or 2.5%, to reach $70.36 per barrel. The US West Texas Intermediate (WTI) crude rose approximately $1.88, or 2.8%, to $68.45 a barrel.

Brent crude recorded a 3% increase over the week, while WTI crude marked weekly gains of about 2.2%, reflecting an upward trend in the global oil market.