Losses approaching 8%… Iraqi oil leads global crude declines
Losses approaching 8%… Iraqi oil leads global crude declines
2026-06-16
Shafaq News – Basra
Iraqi crude oil prices fell sharply on Tuesday, making them among the biggest losers in global markets, amid pressure stemming from optimism about a preliminary agreement between the United States and Iran.
Basra Heavy crude fell to $53.50 a barrel, a loss of $4.64 or 7.98%, while Basra Medium crude declined to $55.60 a barrel, down by the same amount and by 7.70%.
Globally, Brent crude fell to $82.91 a barrel, down 0.31%, while US West Texas Intermediate crude dropped to $80.66 a barrel, down 0.11%.
The OPEC basket also fell by 6.52% to $91.68 a barrel, while Oman crude on the Dubai Mercantile Exchange declined by 7% to $81.91 a barrel, affected by the prevailing uncertainty in global markets.
shafaq.com
