Basra Crude Prices Decline Amid Global Oil Drop

Al-Sabah Al-Jadeed – Agencies:The prices of Basra crude oil — both heavy and medium grades — witnessed a drop on Monday, in line with a global decline in oil prices.Basra Heavy crude fell by $1.79, or 2.34%, to settle at $60.12 per barrel, while Basra Medium crude dropped by $1.79, or 2.6%, reaching $63.57 per barrel.This decline followed a global fall in oil prices, as crude dropped by more than $2 per barrel in early Asian trading, amid preparations by OPEC+ to accelerate oil production increases, raising concerns over additional supply.Brent crude was priced today at $59.25 per barrel, while U.S. West Texas Intermediate (WTI) stood at $56.19 per barrel.