Iraq violence not looming as large over oil markets
Brent crude Thursday continued to fall away from the nine-month highs of earlier in the week, as the market reassessed the impact of violence in Iraq. The global benchmark oil contract on the ICE Futures Europe fell by 0.1% to $113.67, and is now $2 below the levels reached a week ago. Concerns about loss […]Ben Winkley reports for the Wall Street Journal :
Brent crude Thursday continued to fall away from the nine-month highs of earlier in the week, as the market reassessed the impact of violence in Iraq. The global benchmark oil contract on the ICE Futures Europe fell by 0.1% to $113.67, and is now $2 below the levels reached a week ago.
Concerns about loss of supply from Iraq are exaggerated, said analysts at Commerzbank. The world's sixth-largest producer has been beset by violence since militant groups began gaining territory in the north of the country earlier this month.
