Oil broke higher to open the week with a gap. During the weekend the governmental forces of Iraq entered the city of Kiruk and took under control minefields in the region. The disputed city of Kirkuk has always been a ‘bingo’ for the Kurdish region. They regarded it as an integral part of Kurdistan. But Bagdad regards it with similar intensity. Kirkuk has always had the unresolved status. The current conflict may not only move the oil prices but also deep the turmoil in this region.
Iraq supplies about 14% of total OPEC production. A conflict in the north of the country had an immediate impact on oil markets. The fear of disruptions in supply sent Brent crude 1.7% higher to September, 28 highs at $57.90 for a barrel in the morning. The commodity is unstoppable and is nearing September, 22 highs at $58.40.
Another positive factor for oil is US unilateral potential sanctions against Iran. Given the current bullish trend there are good chances the benchmark will break the $60 round figure till the end of the year.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out