Basra: Basra heavy and medium crude prices rose on Wednesday, despite the stability of oil prices in global markets. Basra heavy crude prices increased by 49 cents, or 0.49%, to reach $67.12, while medium crude prices climbed 49 cents, or 0.39%, to $70.57. According to National Iraqi News Agency, oil prices stabilized on Wednesday after a decline in the previous session. The market is currently anticipating the impact of new US tariffs on India, imposed in retaliation for India's purchases of Russian supplies. In global markets, Brent crude futures experienced a minor rise of 2 cents, reaching $67.24 a barrel by 01:33 GMT. Meanwhile, US West Texas Intermediate (WTI) crude futures remained steady at $63.25, reflecting a period of stability in the oil market amid geopolitical tensions.
