Iraq’s Basrah crude prices slipped slightly on Thursday, with both Basrah Heavy and Basrah Medium down about 0.5%.
Basrah Heavy fell 56 cents to $111.94 per barrel, while Basrah Medium dropped the same amount to $114.04.
Even with the decline, Iraqi crude held up better than several regional benchmarks, outperforming some neighboring grades that saw deeper pressure.
At the same time, global oil markets moved higher, with Brent and US WTI both posting gains as international prices found support.
Iraq’s pricing continues to move with global benchmark systems. Exports to Asia are linked to Dubai and Oman prices, shipments to Europe are tied to Brent, and cargoes to the United States are priced against WTI.
In simple terms, Iraqi crude eased lower, but it performed relatively well compared with some regional grades while global oil prices moved higher.
