Basra heavy and medium crudes surge over 10% weekly despite late dip
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Basra (IraqiNews.com) — Iraq’s flagship export grades, Basra Heavy and Basra Medium, logged substantial double-digit weekly gains, even as both contracts retreated by 80 cents per barrel in their final trading sessions alongside wider pullbacks across international crude benchmarks.
The weekly rally reflects heightened geopolitical risk premiums and localized shipping disruptions in Middle Eastern maritime transit corridors, which tightened regional sour crude supplies despite late-week profi
The weekly rally reflects heightened geopolitical risk premiums and localized shipping disruptions in Middle Eastern maritime transit corridors, which tightened regional sour crude supplies despite late-week profi
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