Basra crude prices decline after the global deterioration

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Basra crude prices decline after the global deterioration

The price of Basra’s heavy and medium crude oil decreased on Wednesday due to the drop in global oil prices.

The prices of Basra Heavy crude and Basra Medium crude fell by $1.22 each, with the former reaching $87.48 and the latter $90.63.

Global oil prices fell on account of the weakened expectations for energy demand resulting from the recent economic data, despite the signs of shrinking US supplies.