Basra crude prices rise as global oil prices climb

Prices for Basra crude, both heavy and medium grades, rose on Wednesday, in line with rising oil prices in global markets.
Basra Heavy crude prices rose 29 cents, or 0.48%, to $60.78 a barrel, while Basra Medium crude prices rose 29 cents, or 0.46%, to $63.23 a barrel.
Oil prices rose on Wednesday, extending gains from the previous day, after the United States shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel in the Strait of Hormuz, reviving fears of escalating tensions between Washington and Tehran.
Brent crude rose to $67.78, and US West Texas Intermediate crude to $63.72.