Basra: Basra Heavy and Medium crude oil prices experienced a decrease of more than one dollar on Thursday. Basra Heavy crude prices fell by 92 cents, marking a 1.40% decline, settling at $64.65. Similarly, Medium crude prices saw a decline of 92 cents, or 1.34%, reaching $67.90.

According to National Iraqi News Agency, despite the decrease in Basra crude prices, oil prices rose slightly on Thursday. This rise followed a sell-off in the previous session and was attributed to increased market risk premiums ahead of a meeting between US President Donald Trump and Russian President Vladimir Putin. Brent crude was reported at $65.91, while US crude stood at $62.89.