4 hours ago
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Basra crude closed with a weekly loss of more than 7%, while Brent and American recorded losses of more than 12%, affected by the banking sector turmoil during the past week.
Basra Heavy crude closed in its last session on Friday, at an increase of 1.14 dollars, to reach 69.26 dollars, and recorded a large weekly loss of 5.42 cents, equivalent to 7.26%.
While Basra Light crude closed in its last session higher, also amounting to 1.14 dollars, to reach 74.01 dollars, and recorded a weekly loss of 5.42 dollars, or the equivalent of 6.82%.
As for Brent crude, it closed in the last session of yesterday, Friday, down by 1.73 dollars, to reach 72.07 dollars, and recorded a large weekly loss amounting to 10.71 dollars, or the equivalent of 12.94%.
West Texas Intermediate (WTI) crude closed in its last session of Friday, down by $1.61, to reach $66.74 per barrel, and also recorded a weekly loss of $9.94, or 12.96%.
Crude oil prices witnessed a decline during the past week, affected by the unrest in the banking sector and the bankruptcy of some of them, which shattered the optimism of investors regarding the recovery of demand for oil after the economic growth in China.
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