Basra: Basra Heavy and Basra Medium crude oil prices recorded weekly gains, despite the decline in oil prices in global markets. Basra Heavy crude oil closed in the last session, down 67 cents to $72.16, but recorded weekly gains of $2.09, equivalent to 2.98%. Meanwhile, Basra Medium crude oil closed in the last session, up 67 cents to $75.11, recording weekly gains of $2.24, equivalent to 3.07%.

According to National Iraqi News Agency, globally, both Brent and Texas Intermediate crude oils achieved weekly gains, with Brent gaining 3.2% and US crude gaining 2.8%. These gains come amid a broader global oil market where prices have generally been declining, highlighting the resilience of Basra crude oil in the current economic climate.