Basra crude incurs huge weekly losses

Basra crude (heavy and medium) incurred huge weekly losses as global oil prices recorded sharp weekly losses. Basra heavy crude closed in its last session yesterday, Friday, up 40 cents to reach $68.76, but recorded weekly losses of $6.10, equivalent to 7.90%. Basra medium crude also closed in its last session up 40 cents to reach $71.76, and recorded weekly losses of $6.10, equivalent to 7.60%. Global oil prices have recorded extended losses for 4 consecutive sessions, amid anticipation of the position of / OPEC + /. US West Texas Intermediate crude oil recorded weekly losses of 7.9%, while Brent crude oil recorded sharp weekly losses of more than 7.6%. Source: National Iraqi News Agency