MNA – Prices for light crude of Iran rose by more than one dollar to be traded at 51 dollars per barrel in the week leading to August 25.
As reported by the Iranian Ministry of Petroleum, estimations on arrival of Hurricane Harvey in the Gulf of Mexico had led to a rise in crude prices in global markets.
In the seven days leading to August 25, Iran’s light crude prices grew by $1.24 climbing to 51 dollars a barrel while the average figure for Iranian crude has been $49.03 since the beginning of the Iranian calendar year.
In the meantime, price figures for heavy crude of Iran moved up to 48 dollars and 84 cents indicating a 96-cent upswing as compared the earlier week.
The price of OPEC basket also rocketed by 99 cents surging to a $49.70 per barrel.
Over the same time span, WTI and Brent crude oil prices grew larger by 12 and 149 cents mounting up to $47.62 and $51.94 respectively.
Dubai and Oman crude oil barrels were also traded at $50.31 and $50.45 in the week leading to August 25 after respectively snowballing by 90 and 94 cents.