Crude oil rallied to fresh three-week highs on intensified geopolitical tensions in the Middle East, and between the US and Iran. The front-month WTI crude oil contract fained +0.82% to settle at 51.87 while the Brent contract jumped +1.14% to close at 57.82. it is reported that Kurdistan has shut about 0.35M bpd of production from the major Bai Hassan and Avan oilfields as Iraq sent troops to seize Kirkuk, a key city in the Kurdish region.
Original post:
WTI-Brent Spread Widens as Tension-Ridden Regions are Suppliers of European Oil
Leave a Reply
You must be logged in to post a comment.