Basra oil settled higher and recorded weekly gains, similar to the rest of Brent and American crudes.
Basra Heavy crude closed in its last session on Friday, at an increase of 2.11 dollars, to reach 71.97 dollars, and recorded a weekly gain of 1.27 dollars, equivalent to 1.8%.
Basra Intermediate crude closed in the last session, also higher, amounting to 2.11 dollars, to reach 75.12 dollars, and recorded a weekly gain of 1.27 dollars, or the equivalent of 1.73%.
As for Brent crude, it closed in its last session on Friday, up by 94 cents, to reach $76.61, and recorded a weekly gain of two dollars, or 2.4%.
West Texas Intermediate (WTI) crude closed in its last session on Friday, also up by $1.16, to reach $71.78 a barrel, and recorded a weekly gain of $1.87, or 2.3%.
Oil prices rose after the increase in demand from China and the OPEC + alliance cut production, despite expectations of a weak global economy and the possibility of raising interest rates again.
Source: National Iraqi News Agency