Basra crude closed with significant gains last week, with the increase in oil prices globally.
Basra Heavy crude closed in its last session yesterday, Friday, with a rise of 1.32 dollars, to reach 87.68 dollars, and recorded weekly gains of 5.1 dollars, equivalent to 6.06%.
Brent crude closed in the last session, up $3.50 to $97.92, and recorded a weekly profit of $9.96, or 11.32%.
US West Texas Intermediate crude also closed higher in the last session on Friday, by $4.19, to reach $92.64 a barrel, and recorded significant weekly profits as well, amounting to $13.15, or 16.54 percent.
Last week witnessed a rise in oil prices when the OPEC + alliance decided to reduce its production by two million barrels per day, after oil prices witnessed a gradual decline as a result of the economic recession that began to appear in Europe and America after raising interest rates in these countries to curb inflation.
Source: National Iraqi News Agency