Basrah crude rises amid stable Brent

Shafaq News / Both heavy and medium Basrah crude prices rose on Thursday as Brent crude prices stabilised.

Basrah Heavy crude rose $1.15 to $82.10 a barrel. Similarly, Basrah Medium crude gained $1.15, bringing its price to $84.95 per barrel.

Meanwhile, Brent crude futures were flat, hovering just below a seven-week high.

August Brent rose six cents to $85.13 a barrel. Meanwhile, U.S. West Texas Intermediate (WTI) futures for July, which expire on Thursday, were down 15 cents at $81.42 a barrel.

The market is closely monitoring geopolitical developments in the Middle East and awaiting upcoming US inventory data for further direction.