Basra crude prices rise amid global oil recovery

Iraqi crude prices rose on Wednesday along with gains in global oil prices, with Basra Heavy at $73.70 per barrel, up $0.40 or 0.55%, while Basra Medium rose to $77.00 per barrel, up $0.40 or 0.52%.

Globally, Brent rose to $103.19 per barrel, up $0.60 or 0.58%, while West Texas Intermediate climbed to $89.57 per barrel, up $0.19 or 0.21%.

Conversely, the OPEC basket fell to $111.75 per barrel, down $1.03 or 0.91%, while the UAE's Murban crude was $114.63 per barrel, down $2.31 or 1.98%.

Thus, the rise in Basra crude prices was in line with gains in Brent and WTI, while some benchmark grades and OPEC crudes moved in the opposite direction.