Shafaq News- Baghdad
Iraq's two Basrah crude grades fell more than 3%on Wednesday, widening the discount against Arab producer benchmarks andpushing Basrah Heavy toward the $50 threshold.
Basrah Heavy dropped $2.05, or 3.83%, to $51.45per barrel, while Basrah Medium declined $2.05, or 3.69%, to $53.55 per barrel.
Saudi Arab Light traded at $85.28 per barrel,Kuwait Export Crude at $94.84, the UAE's Murban at $71.81, and Qatar Land at$75.81, leaving both Basrah grades at least $18 below the cheapest Arabbenchmark in Wednesday's session.
Brent crude fell to $78.71 per barrel, whileWest Texas Intermediate (WTI) declined to $75.71 per barrel.