For The Second Week In A Row, Iraqi Oil Records A Significant Loss
Energy Economy News – Baghdad Basra Heavy and Medium crude oil recorded a significant weekly loss for the second consecutive week.
Basra Heavy crude closed its final session on Friday, up $1.44 to $61.69, but recorded a weekly loss of $5.28, or 7.88%. Basra Medium crude also closed its last session up $1.44 to $70.02, recording a weekly loss of $5.18, or 7.4%.
Oil markets are experiencing their second consecutive weekly loss, due to concerns about the ongoing trade war between the United States and China.
Brent crude also fell more than 1% during the week, while West Texas Intermediate crude fell by a similar percentage, after both benchmarks witnessed a decline of 11% last week. https://economy-news.net/content.php?id=54352