Analysis: Markets moved, but KRG-Baghdad deal not done

Prime Minister Nouri al-Maliki has reportedly agreed to support Kurdistan's oil contracts -- a significant step, but only one of many on the long path to reconciling a years-long dispute.
Analysis: Markets moved, but KRG-Baghdad deal not done
Prime Minister Nouri al-Maliki (R) talks with then-Deputy Prime Minister Barham Salih during a national assembly meeting in 2006. Maliki has reportedly agreed to accept oil contracts signed by the Kurdistan region, where Salih is now prime minister. (CEERWAN AZIZ-POOL/Getty Images)

After weekend news that Prime Minister Nouri al-Maliki now supports Kurdish oil contracts, investors reacted with exuberance. But in the years-long dispute between Baghdad and the semi-autonomous Kurdistan region, political rhetoric and hopeful speculation have often out-paced real progress toward reconciliation.Norwegian oil company DNO's shares jumped after Agence France-Presse (AFP) reported that Maliki has agreed to all of the semi-autonomous Kurdistan region's production sharing agreeme...

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