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On Tuesday, Basrah crude oil prices dropped tracking a decline in global oil markets.
Basrah Heavy crude decreased by $0.83, or 1.06%, to $77.60 per barrel, while Basrah Medium crude also decreased by $0.83, or 1.02%, to settle at $80.85 per barrel.
The drop comes as global oil prices reacted to US President Donald Trump’s announcement of measures aimed at boosting domestic oil and gas production. Trump also proposed imposing tariffs on oil imports from Canada, further influencing market sentiment.
By 04:05 GMT, Brent crude futures decreased by $0.01, or 0.01%, to $80.14 a barrel, while US West Texas Intermediate (WTI) crude decreased by 60 cents, or 0.78%, to $76.79 a barrel.
