Basra - ALsharqiya, May 21: Basra crude prices rose on Wednesday, coinciding with the rise in global oil prices. Basra Heavy crude rose 57 cents to $61.60, while medium crude rose to $64.75. This rise comes amid fears of a faltering nuclear negotiations between Tehran and Washington and Israel's threat to launch strikes on Iran, which contributed to raising the price of Brent crude to $66.04 and US crude to $62.56. Meanwhile, official statistics revealed that the value of Iraq's oil exports to South Korea reached about $9 billion in 2024, indicating that the exported quantity amounted to more than 815 million tons.
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