Basra crude suffers slight weekly losses

Basra crude oil suffered slight losses for the third week in a row, despite global oil prices recording gains of 2%. Basra Heavy crude closed in its last session yesterday, Friday, at an increase of 68 cents, reaching $86.13, but it recorded weekly losses amounting to 38 cents, equivalent to 0.44%. While Basra Intermediate crude closed, in its last session, with a decrease of 68 cents, reaching $89.33, thus also recording weekly losses amounting to 44 cents, or the equivalent of 0.49%. This comes at a time when global oil prices rose at the end of trading yesterday, Friday, to continue reaping gains for the second session in a row, and also achieved weekly gains for the first time in three weeks. Source: National Iraqi News Agency