Iraqi crude oil prices continued their steep downward trend on Thursday, with Basrah Heavy falling to $53.07 per barrel and Basrah Medium settling at $57.07.
Market data showed that both grades lost $9.24 per barrel, representing declines of 14.83% for Basrah Heavy and 13.94% for Basrah Medium, taking their prices below the $60 mark.
In contrast, international oil benchmarks posted gains, with West Texas Intermediate rising 0.59% to $88.64 per barrel, while Brent crude advanced 1.67% to reach $96.20.
Meanwhile, the OPEC basket moved in the opposite direction, declining 6.43% to $96.87 per barrel, reflecting divergent movements across Iraqi crude grades and international oil markets.
