Basra: Basra crude, heavy and medium, recorded weekly declines and increases, respectively, despite the global rise in oil prices.

According to National Iraqi News Agency, Basra Heavy crude rose by $1.12 in its last trading session to reach $64.68, but recorded a slight weekly loss of two cents, or 0.03%. On the other hand, Basra Medium crude also closed higher in its last trading session, increasing by $1.12 to reach $66.53, and registered weekly gains of 68 cents, or 1.03%.

In contrast, global oil market prices showed a moderate increase at the close of trading today. Brent crude futures settled at $65.07 a barrel, marking an increase of seven cents or 0.11%, while U.S. West Texas Intermediate crude ended trading at $60.98 a barrel, up by 41 cents, or 0.68%.