Below $60, Basra crude suffers sharp weekly losses
Below $60, Basra crude suffers sharp weekly losses
2026-06-13
Shafaq News – Basra
The two Iraqi crudes, Basra Heavy and Basra Medium, suffered significant weekly losses, despite ending their last trading sessions lower, at a time when global oil markets witnessed a broad decline that included Brent crude, West Texas Intermediate and a number of regional and global crudes .
Iraqi Basra Heavy crude oil recorded a decrease of $2.68 in the last trading session, closing at $58.14 per barrel, down 4.41% on a daily basis, while its weekly loss amounted to $11.14, equivalent to 19.16% compared to the beginning of the week .
Basra Medium crude also fell by $2.68 to $60.24 a barrel, down 4.26% in the last session, while recording a weekly loss of $11.14, or 18.49 %.
Globally, Brent crude fell by $3.05 to $87.33 a barrel, a decline of 3.37%, while US West Texas Intermediate crude dropped by $2.83 to settle at $84.88 a barrel, a decrease of 3.23 %.
Several global crude oils also declined, most notably the UAE’s Murban crude, which fell by 4.85% to $83.02 per barrel, Russia’s Urals crude, which dropped by 5.61% to $78.39, as well as the US’s Mars crude, which lost 5.58% of its value .
In contrast, some indicators bucked the downward trend, as the OPEC basket rose to $98.07 a barrel, an increase of 0.92%, and Oman crude traded on the Dubai Mercantile Exchange rose by 3.02% to reach $88.08 a barrel .
This decline comes amid continued volatility in global oil markets, as investors monitor geopolitical developments and supply and demand forecasts in energy markets .
shafaq.com
