Basrah Crude Loses More Than 6 Percent on the Week

According to a Shafaq News report published Saturday, 7 Shahrivar 1405 (August 29, 2026), Basrah Heavy and Basrah Medium crude each lost 5.37 dollars a barrel over the week ending that day, falling 6.72 percent and 6.46 percent respectively. Both grades nevertheless rose in the week's final trading session: Basrah Heavy gained 1.67 dollars a barrel (2.29 percent) to settle at 74.52 dollars, and Basrah Medium also rose 1.67 dollars a barrel (2.19 percent) to 77.82 dollars.

Global oil prices moved lower the same day: West Texas Intermediate fell 0.10 percent (0.08 dollars) to 83.46 dollars a barrel, while Brent declined 0.37 percent (0.33 dollars) to 89.37 dollars a barrel.