Basra: The prices of Basra Heavy and Medium crude oils rose by more than 1% on Thursday in global markets. The price of Basra Heavy crude rose 65 cents per barrel, or 1.06%, to reach $62.06, while the price of Medium crude also rose 65 cents, or 1.01%, to reach $65.01.

According to National Iraqi News Agency, Brent and US crude futures fell, affected by an increase in US oil inventories and Saudi Arabia’s reduction of crude prices to its buyers in Asia. The price of Brent crude reached $64.74, down 23 cents, while the price of US crude reached $62.63, down 22 cents.