Iraqi oil prices recorded a sharp decline on Tuesday as global energy markets continued to fluctuate and benchmark crude prices showed mixed performance.
Basra Heavy crude dropped to $99.20 per barrel, losing $4.66, or about 4.49%.
Basra Medium crude also fell to $101.30 per barrel, recording a similar decline of around 4.40%.
At the same time, global oil benchmarks moved in different directions. Brent Crude rose to $97.83 per barrel, gaining 1.76%, while West Texas Intermediate continued to decline, falling to $91.47 per barrel, down 5.31%.
The decline also affected Gulf and Arab crude prices. Saudi Light crude fell by 4.24% to settle at $108.35 per barrel, while the UAE’s Murban crude saw a larger drop of 9.19%, reaching $92.82 per barrel.
As a result, the Organization of the Petroleum Exporting Countries basket price declined to $113.44 per barrel, marking a loss of 1.72%.
In the natural gas market, prices showed mixed movement. US natural gas prices rose by 0.79% to reach $2.930, while European Dutch gas prices declined by 1.42%.
