Basra heavy and medium crude ended the week with significant losses, despite recording an increase in the last session, amid a decline in global oil prices.
Basra heavy crude rose in the last trading session by $2.59 per barrel, closing at $55.66, with an increase of 4.88%. However, it recorded a weekly loss of $18.46, equivalent to 24.91%, compared to the price at the beginning of the week which was $74.12 per barrel.
Medium Basra crude also increased by $2.59 per barrel, with an increase of 4.54%, closing at $59.66, but it suffered a weekly loss of $18.44, or 23.61%, compared to its price at the beginning of the week which was $78.10 per barrel.
Globally, West Texas Intermediate futures fell to $90.36 per barrel, down by $0.16, or 0.18%.
Brent crude futures also dropped to $97.48 per barrel, with a decrease of $0.81, or 0.82%.