Iraqi oil prices dropped sharply today, Thursday, affected by a wave of decline that included global oil markets, amid a noticeable decrease in the prices of key crude oils.
Basrah heavy crude fell to $62.31 per barrel, recording a loss of $7.84, or 11.18%, while Basrah medium crude decreased to $66.31 per barrel, down by the same amount and 10.57%.
Globally, West Texas Intermediate crude recorded $86.78 per barrel, declining by 1.52%, while Brent crude fell to $93.62, down by 1.06%.
The basket of the Organization of the Petroleum Exporting Countries (OPEC) also saw a significant decline, dropping to $103.53 per barrel, with a loss of $12.33, and a decrease percentage of 10.64%.
This decline comes amid fluctuations in global energy markets, with anticipation for developments in supply and demand and their impact on oil prices.