Basra:Prices for Basra Heavy and Basra Medium crude oils decreased on Wednesday, contrasting with the upward trend in global and regional oil prices.

According to National Iraqi News Agency, the price of Basra crude experienced a decline of $1.78, settling at $71.42 per barrel, marking a 2.43% decrease. Similarly, Basra Medium crude saw a reduction of $1.78, bringing its price to $75.42 per barrel, a decline of 2.31%.

Meanwhile, global oil prices recorded gains on Wednesday. This increase followed an announcement by the Houthis claiming they had targeted the Saudi Ras Tanura refinery, sparking renewed concerns over oil supply flows from the Middle East.