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Aug 29, 2014

Brent rises on Ukraine crisis but heads for monthly fall

LONDON, Aug 29 (Reuters) – Brent crude oil prices rose
towards $103 a barrel on Friday as escalating violence in
Ukraine kept Europe’s markets on edge, but prices were still on
track for a monthly loss as ample supply and weak demand
outweighed political concerns.

The European benchmark oil contract had plunged over 12
percent from a nine-month high in June to a 14-month low last
week as weak demand led to an oil supply glut.

Aug 27, 2014

Brent rises near $103, rebounds from lows on North Sea outage

LONDON, Aug 27 (Reuters) – Brent crude oil rose towards $103
a barrel on Wednesday, recovering from a 14-month low hit last
week as traders monitored maintenance work in the North Sea,
although healthy global supplies limited gains.

Oil benchmarks on both sides of the Atlantic have fallen by
more than 10 percent since mid-June and remain on track to post
a second monthly fall against a backdrop of lower imports by the
United States and slowing growth in China and Europe.

Aug 27, 2014

Brent rises near $103, rebounds from lows on North Sea outage

LONDON, Aug 27 (Reuters) – Brent crude oil rose towards $103
a barrel on Wednesday, recovering from a 14-month low hit last
week as traders monitored maintenance work in the North Sea,
although healthy global supplies limited gains.

Oil benchmarks on both sides of the Atlantic have fallen by
more than 10 percent since mid-June and remain on track to post
a second monthly fall against a backdrop of lower imports by the
United States and slowing growth in China and Europe.

Aug 20, 2014

Brent crude oil rebounds off 14-month low towards $102

LONDON, Aug 20 (Reuters) – Brent crude oil edged higher
towards $102 a barrel on Wednesday, after slumping to a 14-month
low in the previous session, as growing output from Iraq and
Libya despite violence in those countries has kept the market
well supplied.

The international oil benchmark has fallen more than 12
percent since hitting a year-high of $115.71 in June. The surge
of radical Islamist militants in Iraq that first rattled oil
markets has yet to significantly cut supplies from the country,
which is the second-largest producer in the Organization of the
Petroleum Exporting Countries (OPEC).

Aug 15, 2014

Exclusive: Iraqi Kurds sell third major oil cargo, fourth heads to Croatia

LONDON (Reuters) – Iraqi Kurdistan has delivered its third major cargo of crude oil out of a Turkish port and a fourth is sailing to Croatia, showing the autonomous region is finding more buyers despite legal pressure from Baghdad and setbacks in the United States.

The Kurdish Regional Government (KRG), whose peshmerga forces are being supported by U.S. airstrikes in their battle against the radical Sunni militants of Islamic State, has been in a long constitutional fight with Baghdad over independent oil sales.

Aug 15, 2014

Iraqi Kurds sell third major oil cargo, fourth heads to Croatia

LONDON, Aug 15 (Reuters) – Iraqi Kurdistan has delivered its
third major cargo of crude oil out of a Turkish port and a
fourth is sailing to Croatia, showing the autonomous region is
finding more buyers despite legal pressure from Baghdad and
setbacks in the United States.

The Kurdish Regional Government (KRG), whose peshmerga
forces are being supported by U.S. airstrikes in their battle
against the radical Sunni militants of Islamic State, has been
in a long constitutional fight with Baghdad over independent oil
sales.

Aug 13, 2014

Brent crude oil falls to 13-month low on strong supplies

LONDON, Aug 13 (Reuters) – Brent crude oil fell for a fourth
straight day on Wednesday to its lowest in more than a year,
dipping towards $102 a barrel as strong supplies overshadowed
fears of disruptions from violence in OPEC members Iraq and
Libya.

The international oil benchmark has fallen 11 percent since
mid-June as the surge by Islamic State militants in northern
Iraq has yet to lead to any major supply outage, while global
crude output has been rising.

Aug 12, 2014

Oil tankers in limbo show Kurds losing access to U.S. market

LONDON/HOUSTON, Aug 12 (Reuters) – U.S. refiners will
refrain from buying more Kurdish crude oil until a long-running
dispute between Baghdad and Iraqi Kurdistan is settled, while
Washington urges both sides to set aside their differences and
helps them tackle Sunni militants.

The two known U.S. buyers of Kurdish crude oil have now
rejected delivery of cargoes from tankers near New Jersey and
Texas, saying they will not make further purchases until it is
determined who has the right to sell the oil: the central
government of Iraq or the Kurdistan Regional Government (KRG).

Aug 8, 2014

Iraqi Kurdistan oil firms pull out staff, shares fall

LONDON, Aug 8 (Reuters) – Oil companies in Iraqi Kurdistan
withdrew more staff on Friday as the United States launched
airstrikes to defend the regional capital Arbil from Islamic
State militants and Britain told its citizens to leave.

Iraqi Kurdistan-focused shares have fallen as investors
reappraise the autonomous region’s much-vaunted security. Some
of the biggest oil operators in the region have lost almost a
quarter of their market value this week.

Aug 7, 2014

Iraqi Kurdistan-focused oil shares hit by IS advance

LONDON, Aug 7 (Reuters) – Shares in energy companies
operating in Iraqi Kurdistan plummeted on Thursday after Islamic
State militants advanced closer to oilfields in the
semi-autonomous region.

Oil producers, including Oslo-listed DNO Petroleum
and London-listed Gulf Keystone Petroleum saw
double-digit declines in their share prices as the radical Sunni
militants seized at least three more towns near
Kurdish-controlled territory.