Basra: Basra heavy and medium crude oil types have recorded notable losses over the past week, despite ending the week with gains. According to National Iraqi News Agency, Basra heavy crude saw an increase of 88 cents in its final trading session, closing at $72.45 per barrel. However, this gain was not enough to offset the weekly loss, which amounted to $4.6 per barrel. Similarly, Basra medium crude also rose by 88 cents in its last session, reaching $75.20 per barrel, but it too endured a weekly loss of $4.6. The decline in oil prices was influenced by market anxieties, as prices fell over 1% at the settlement on Friday evening. This downturn is set to mark the first monthly decline in oil prices since November. Factors contributing to this trend include looming threats from Washington to impose customs duties and Iraq's decision to resume oil exports from the Kurdistan Region.