Basra crude counts its losses in a week

2024-02-03T05:35:44+00:00

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/ Basra crude oil achieved weekly losses as global oil prices recorded weekly losses after consecutive gains for 4 weeks.

Basra Heavy crude closed its last session on Friday down 1.42 cents to $74.55, posting a weekly loss of $3.6, or 3.94%.

Basra Medium crude closed its last session down by $1.42 to $77.55, and also recorded weekly losses of $3.29, or 4.7%.

Global oil prices fell about 2 percent on Friday, posting weekly losses of 7 percent, after strong U.S. jobs data reduced the chances of interest rate cuts in the world’s largest economy, which could weaken demand for crude.