Iraqi crude oil prices declined on Wednesday (July 29, 2026), despite a strong rise in global oil futures. Prices for several other OPEC and Arab crude oils also fell.
According to data, Basra Heavy crude dropped to $53.70 per barrel, a decrease of 0.90%, while Basra Medium crude fell to $56.00 per barrel, a decrease of 0.87%.
In global markets, Brent crude rose to $87.22 per barrel, an increase of $3.13, or 3.72%, while West Texas Intermediate crude climbed to $82.01 per barrel, an increase of $2.75, or 3.47%.
Iraqi crude prices decline despite global oil price rise
