Iraq’s Basrah crude plunged more than 7% on Thursday, as major global benchmarks moved lower.
Basrah Heavy crude dropped to $47.51 per barrel, losing $3.94, or 7.66%, while Basrah Medium crude slid to $49.61 per barrel, down $3.94, or 7.36%.
Brent crude fell to $77.99 per barrel, shedding $1.56, or 1.96%, and US West Texas Intermediate crude declined to $75.04 per barrel, down $1.75, or 2.28%.
OPEC’s basket retreated 3.95% to $84.43 per barrel, while Dubai crude slipped 4.24% to $80.66.
Saudi Arabia’s Arab Light crude lost 5.71% to $80.41 per barrel, Kuwait Export Blend weakened 9.49% to $85.84, and Qatar’s Al-Shaheen crude dropped 8.82%.
