Basra: Basra Heavy and Medium crude oil prices witnessed a variation at the end of weekly trading. Basra Heavy crude closed the last session down 61 cents to $60.58 per barrel, but overall, it recorded a weekly gain of 9 cents, equivalent to 0.15%. Conversely, Basra Medium crude closed down 81 cents to $63.53, recording a weekly loss of 11 cents, or 0.17%.

According to National Iraqi News Agency, oil prices rose slightly at the close of trading on Friday in thin pre-holiday trading. This slight increase occurred amid fading traders' hopes for an agreement between Washington and Tehran, while strong US economic data bolstered fragile demand forecasts.