Basra: Basra Heavy and Medium crude prices declined for the second consecutive day, despite rising oil prices in global markets. Basra Heavy crude prices fell 23 cents to $64.12, while Medium crude prices fell 23 cents, or 0.34%, to $67.27.

According to National Iraqi News Agency, oil prices rose in global markets today following new sanctions on Iran and a decline in US crude inventories. Brent crude oil recorded $68.01 today, and US crude oil recorded $64.31.