Iraqi crude grades posted strong gains on Thursday despite a broader decline in global oil prices.
Basrah Heavy rose 5.64% to $72.08 a barrel, while Basrah Medium gained 5.47% to $74.18, contrasting with losses recorded by major international benchmarks.
Brent crude fell 77 cents, or 0.79%, to $97.04 a barrel, while US West Texas Intermediate (WTI) dropped 67 cents, or 0.70%, to $95.35, as markets monitored geopolitical developments in the Middle East.
Among regional grades, Saudi Arabia’s Arab Light crude climbed 3.97% to $107.85 a barrel, while Abu Dhabi’s Murban crude added 1.12% to $97.17.
The OPEC basket declined 2.37% to $101.58 a barrel, while Oman crude traded on the Dubai Mercantile Exchange slipped 0.11% to $91.96.
