Iraqi crude oil prices moved lower in global markets on Thursday, with both Basra Heavy and Basra Medium recording noticeable declines alongside a broader drop in oil prices worldwide.
Basra Heavy crude fell by $3.60, or 4.62%, to $74.32 per barrel. Basra Medium also dropped by $3.60, losing 4.43% to settle at $77.62 per barrel.
The decline was not limited to Iraqi oil. Brent crude slipped by $0.40, or 0.46%, to $87.44 per barrel, while West Texas Intermediate (WTI) crude fell by $0.39, or 0.47%, to $81.84 per barrel.
The OPEC basket saw a sharper decline, dropping $4.63 to $90.28 per barrel, a fall of 4.88%. Meanwhile, Oman crude traded on the Dubai Mercantile Exchange fell by $6.48, or 6.78%, to $89.11 per barrel.
The latest figures show oil prices facing pressure across global markets, with Iraqi crude following the broader downward trend.
