Brent Surged as Turkey Threatened to Cut Kurdish Oil Exports

Tensions in the Middle East and North Africa (MENA) are still influential on oil prices. Turkey's threat to cut off oil exports from Iraq's Kurdish region lifted oil prices. The front-month WTI crude oil contract jumped +4.63% to settle at 52.22, highest close in 5 months. The Brent contract surged +6.38% to close at 59.02, a level not seen since July 2015.

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Brent Surged as Turkey Threatened to Cut Kurdish Oil Exports