Basra Heavy and Basra Medium crude oil both ended the week with overall losses, even though prices moved higher during the final trading session.
Basra Heavy crude closed at $74.75 per barrel after gaining 7.08% in the last session. Despite that rebound, it still recorded a weekly loss of 7.80%, down from $81.07 at the start of the week.
Basra Medium crude finished at $78.05 per barrel, rising 6.76% in the final session. However, it also posted a weekly loss of 7.49%, compared with $84.37 at the beginning of the week.
In global markets, U.S. West Texas Intermediate (WTI) crude settled at $90.06 per barrel, down 3.03% for the week.
Brent crude closed at $100.55 per barrel, recording a weekly decline of 1.72%.
Although oil prices recovered somewhat in the final session, both Iraqi and global crude benchmarks still ended the week lower than where they started, reflecting continued pressure on the oil market.
