Basra Heavy crude oil recorded slight losses, while medium crude oil recorded slight gains during the past week, with global oil recording gains for the fourth week in a row. Basra Heavy crude closed in its last session yesterday, Friday, with a decline of 42 cents, reaching $82.98, and recorded weekly losses of 73 cents, equivalent to 0.87%. While Basra Average crude closed in its last session with a decline of 42 cents, reaching $85.56, and recorded weekly gains of 27 cents, or the equivalent of 0.87%. Brent crude recorded weekly gains of 1.8%, while West Texas Intermediate crude recorded gains of 2%, and the prices of the two standard crude oils (Brent and West Texas Intermediate) rose by 7% and 9%, respectively, over the past four weeks, with hopes for increased demand rebounding. During the summer, supplies declined supported by OPEC+ cuts. Source: National Iraqi News Agency
