Basrah crude tracks global decline with 7% drop

Shafaq News- Basrah

Iraq’s Basrah crude fell about 7% on Tuesday, joininga broader downturn across regional and global oil markets.

Basrah Heavy dropped $4.88 to $64.40 per barrel, whileBasrah Medium declined by the same amount to $66.50.

Globally, West Texas Intermediate shed $1.13, or 1.2%,to $90.17 per barrel, while Brent crude slipped 91 cents, or 1%, to $93.34.

The Organization of the Petroleum Exporting Countries(OPEC) reference basket eased 0.94% to $100.63 per barrel, while several MiddleEastern benchmarks also recorded losses. Dubai crude fell more than 5% to$90.46 per barrel, Oman crude declined 3.21% to $90.40, Saudi Arabia's ArabLight dropped 4.75% to $100.03, and Kuwait Export crude lost 5.55% to $103.82.