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2024-02-24T05:52:27+00:00
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/ Basra crude achieved slight weekly gains, despite Brent crude prices recording weekly losses of more than 2%.
Basra Heavy crude closed up 93 cents at $77.80 in its last session on Friday, posting a slight weekly gain of 52 cents, or 67%.
Basra Medium crude closed its last session up 93 cents to $81.10, also posting a slight weekly gain of 52 cents, or 65%.
This comes at a time when oil prices recorded weekly losses after a Federal Reserve policymaker indicated that an interest rate cut may be delayed for at least another two months. Brent fell during the week by 2 percent, while US crude fell by more than 3 percent.