Basra: Basra Heavy and Medium crude oil prices fell on Thursday, despite the global crude oil price rise. Basra Heavy crude prices fell 70 cents, or 1.6%, to $65.59, while Medium crude prices fell 70 cents, or 1.1%, to $68.64.

According to National Iraqi News Agency, global oil prices rose after five consecutive days of losses, supported by a larger-than-expected decline in US crude inventories, an indication of strong demand in the world’s largest economy. Brent crude reached $67.51, while US crude reached $65.3.