Basra crude achieves weekly gains despite global oil recording weekly and monthly losses

Basra crude oil recorded slight weekly gains over the past week, despite global oil recording weekly and monthly losses. Basra Heavy crude closed in its last session yesterday, Friday, with a decline of $1.26, reaching $80.72, and recorded weekly gains of 53 cents, equivalent to 0.66%. While Basra Average crude closed in its last session yesterday, with a decrease of $1.26, reaching $83.67, and also recorded weekly gains amounting to 53 cents, or the equivalent of 0.64%. At the end of yesterday's session, Friday, the prices of futures contracts for the standard Brent crude oil, for the month of July 2024, decreased by 0.3%, reaching $81.62 per barrel, and recorded weekly losses of 0.6%, while monthly losses of 5.4%. At the same time, US West Texas Intermediate crude futures for July 2024 fell by 1.1%, reaching $76.99 per barrel, and recorded weekly losses of 0.9%, while monthly losses of 5.3%. Source: National Iraqi News Agency