The prices of Iraqi Basra heavy and medium crude rose on Thursday, despite a decline in global oil prices, which recorded a decrease of more than 1%, according to trading data on the New York Stock Exchange.
Basra heavy crude recorded $73.86 per barrel, up 31 cents, or 0.42%, while Basra medium crude climbed to $76.86 per barrel, also increasing by 31 cents, or 0.40%.
In contrast, Brent crude futures fell to $104.48 per barrel, a decrease of $1.58, or 1.49%, while West Texas Intermediate crude dropped to $94.19 per barrel, down 90 cents, or 0.95%.
The Organization of the Petroleum Exporting Countries (OPEC) crude basket also decreased to $112.30 per barrel, registering a drop of $1.73, or 1.52%.
The rise in Basra crude prices comes at a time when global oil indicators are declining, in a mixed movement that reflects the varying performance of oil grades in the markets.