Basra crude oil falls by more than 11% and drops below $50.
Basra crude oil falls by more than 11% and drops below $50.
11-11-2026
Information / Follow-up…
Iraqi oil prices recorded a sharp decline in oil markets on Wednesday, with Basra Heavy and Basra Medium crude prices falling by more than 10%, dropping below $50 per barrel.
According to economic indicators, the price of Basra Heavy crude fell by $5.97, equivalent to 11.57%, to reach $45.64 per barrel.
Data also showed that Basra Medium crude fell by the same amount, or 10.74%, to reach $49.64 per barrel.
In contrast to the sharp decline in Iraqi oil, global markets witnessed significant growth; West Texas Intermediate crude rose to $86.64 per barrel, an increase of 60 cents, while Brent crude climbed to $92.53, an increase of $1.04.
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