Iraqi crude oil prices posted strong gains on Wednesday, supported by a broader rise in global oil markets.
Basra Heavy crude climbed to $62.98 per barrel, up $2.32, representing a 3.82% increase. Meanwhile, Basra Medium crude rose to $65.08 per barrel, marking a gain of 3.70%.
Globally, oil prices also moved higher:
- West Texas Intermediate (WTI) crude increased to $69.77 per barrel, up 0.39%.
- Brent crude futures rose to $73.21 per barrel, gaining 26 cents during trading.
The rebound reflects improved sentiment across energy markets, helping Iraqi crude recover after recent weakness. Basra Heavy and Basra Medium both outperformed the percentage gains seen in major international benchmarks, highlighting stronger momentum in Iraq’s export grades during the session.
Iraqi crude gains on Wednesday
Percentage increase in Iraqi crude benchmarks during Wednesday trading.
| crude | gain |
|---|---|
| Basra Heavy | 3.82 |
| Basra Medium | 3.7 |
