Shafaq News- Baghdad
Iraqi crude prices fell more than 2% on Tuesday,tracking a broader decline in global energy markets as expectations of renewedUS-Iran peace talks weighed on oil sentiment.
Market data showed Basrah Heavy crude losing$2.96 to settle at $113.63 per barrel, while Basrah Medium fell 2.49% to$115.73 per barrel.
Prices retreated from gains recorded in theprevious session after reports emerged that US-Iran negotiations could takeplace this week, a development that raised the prospect of additional Iraniancrude entering global supply from one of the Middle East's key productionzones.
Iraq prices its crude differently by destination—benchmarked against Dubai/Oman for Asia, Brent for Europe, and WTI for theUnited States.