Basrah crude oil prices witnessed a notable decline at the close of the week's trading, influenced by the downward wave hitting global energy markets, amid pressures resulting from geopolitical developments and disruptions in regional shipping and supply chains.
Basrah Heavy Performance
Closing Price: Basrah Heavy closed at $81.07 per barrel in the final trading session.
Daily Drop: Decreased by $8.57 per barrel, a decline of 9.56%.
Weekly Loss: The weekly negative toll reached $9.20 per barrel (10.19%), compared to the opening price of $90.27.
Basrah Medium Performance
Closing Price: Basrah Medium finished the week's trading at $84.37 per barrel.
Daily Drop: Recorded a decrease of $8.57 per barrel, down by 9.22%.
Weekly Loss: Total weekly losses hit $9.20 per barrel (9.83%), compared to its starting level of $93.57.
The Global Market Scene
Globally, volatility was reflected across major benchmarks, recording the following levels:
West Texas Intermediate (WTI): Reached $100.89 per barrel, down by $1.02 (1%).
Brent Crude: Registered $103.77 per barrel, declining by $1.05 (1%).
