Basra: Iraqi oil prices maintained stability on Tuesday, the second day of trading, following a surge that pushed the national average above $77 per barrel last week.

According to National Iraqi News Agency, Basra Heavy crude oil was priced at $74.10 per barrel during Monday’s trading sessions. The average price slightly increased to $77.25 per barrel, marking changes of +1.54 and +1.49 respectively. This performance contrasts with the general trend in global oil markets, where prices saw significant drops. British Brent crude was reported at $74.57 per barrel, and US West Texas Intermediate crude fell to $71.05, reflecting decreases of -2.89 and -2.78 respectively.

These figures indicate a relative resilience of Iraqi crude in a volatile global market, influenced by various geopolitical and economic factors. Analysts are closely monitoring these trends to gauge potential impacts on global oil supply dynamics.