Basra Medium Crude Climbs to $108.93 per Barrel in September 2026

Basra Medium crude oil recorded a significant price increase in September 2026, with its average price reaching $108.93 per barrel, up from $82.04 in August. The monthly gain amounted to $26.89, according to the Organization of the Petroleum Exporting Countries (OPEC) report released in October.

The report also showed that the OPEC Reference Basket rose to $110.59 per barrel in September, compared with $86.44 in the previous month, marking an increase of $24.15.

Among other crude benchmarks, Arab Light reached $109.02 per barrel, while the UAE’s Murban crude stood at $115.39. Brent crude climbed to $116.89 per barrel, and US West Texas Intermediate (WTI) reached $96.38.

OPEC attributed the rise in global crude prices to supply disruptions, concerns over shipping through the Strait of Hormuz, and stronger demand from European refineries for alternative crude supplies amid disruptions affecting shipments from the Middle East.