Basrah Crude Posts Weekly Loss of Over 2 Percent Despite Friday Rebound

Basrah Heavy and Basrah Medium crude posted weekly losses of $1.42 a barrel, or 2.56 percent and 2.49 percent respectively, in the week to Saturday, August 8, 2026, despite rising in the final trading session, Shafaq News reported. Basrah Heavy gained $2.16 a barrel (4.10 percent) in that final session to settle at $54.79, while Basrah Medium rose $2.16 a barrel (3.92 percent) to $57.09. Global benchmarks closed lower in the same session: West Texas Intermediate fell $0.23 (0.30 percent) to $77.06 a barrel, and Brent declined $0.30 (0.36 percent) to $82.19 a barrel.