Basra crude oil rises despite falling global oil prices

Shafaq News/ Basra Heavy and Medium crude oil prices rose on Thursday, despite the decline in global oil prices. Basra Heavy crude prices rose $1.21, or 1.94%, to reach $63.55, while Medium crude prices rose $1.21, or 1.85%, to reach $66.70. Global oil prices lost ground, with Brent falling by about 2% to $64.76. US crude fell $1.31 to $61.84.

Oil prices fell by more than a dollar during today's Thursday dealings. The future contracts of Brent's ore fell $1.49, or 2.3 per cent, to $64.60 per barrel by 0405 Greenwich time. The future contracts of West Texas's ore also dropped $1.46, or 2.3 per cent, to $61.69, and the ore fell by 0.8 per cent yesterday Wednesday.