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.
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
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).
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.
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
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
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.
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).
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.
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
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
LONDON (Reuters) – Well before settling a long-running oil price manipulation case this week, global oil trader Arcadia had shrunk itself to a leaner operation with an almost singular focus: trading the very contracts U.S. regulators accused them of rigging.
Arcadia, a London-based trading firm founded in 1988 and bought eight years ago by Norwegian shipping billionaire John Fredriksen, does not expect restrictions agreed with the U.S. Commodities Futures Trading Commission (CFTC) to disrupt its new strategy focused mainly on trading U.S.-based crude, Paul Adams, chief executive of the U.S.-based Parnon arm, told Reuters.
LONDON, Aug 4 (Reuters) – Energy shares focused on Iraqi
Kurdistan fell sharply on Monday after the Islamic State’s
seizure of oilfields and towns in northern Iraq raised fears
over the autonomous region’s ability to defend its territory
against Sunni militants.
Shares in Norway-listed DNO International and
London-listed Genel Energy Plc fell 9 percent and 6
percent respectively in early trading, while Gulf Keystone
Petroleum International fell 3 percent.