Basrah Medium Crude Rebounds Above $85 a Barrel in Early September

Basrah Medium crude prices showed a strong recovery in early September 2026, offsetting the losses recorded during July.

Official data reviewed by Shafaq News Agency shows that the crude averaged $85.10 per barrel in June before dropping by 7.9% ($6.73) to $78.37 in July.

The benchmark began regaining momentum in August, pushing back above the $80 mark before extending its gains into early September. By September 4, Basrah Medium hit $85.97 per barrel—effectively returning to its June levels and outpacing the July average by approximately $7.60, signaling a clear upward trend for Iraqi oil exports.