Iran Heavy, one of the country's main export grades, settled at $51.60 a barrel, up 91 cents from the previous week, Shana reported on Saturday, citing a report by the Oil Ministry. Iranian crude has averaged $49.31 a barrel in 2017.
The upward trend comes as global oil benchmark Brent was close to $57 a barrel on Friday, holding firm at five-month high. The price of the Organization of Petroleum Countries' basket of 14 crudes stood at $54.59 a barrel on Thursday, compared with $54.06 the previous day, according to OPEC Secretariat calculations, Financial Tribune reported.