Iraqi oil holds above $110

Iraqi oil prices witnessed a decline in sales rates on Thursday, coinciding with the mixed performance of global energy markets. Basra crude maintained higher price levels compared to some Gulf crudes.

Market data monitored by the Information Agency indicated that “Basra Heavy crude recorded a decrease of 0.50%, reaching $111.94 per barrel, while Basra Medium crude declined by 0.49% to $114.04 per barrel.”

The data further clarified that “Basra crude prices remained higher than their regional counterparts, with Saudi Light crude recording $109.04 per barrel, Qatari Shaheen crude at $97.63, Kuwaiti crude at $93.64, and Emirati Murban at $103.12.”
This price variation comes at a time when global oil trading is experiencing instability due to current economic and geopolitical variables.

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