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The oil agreement Baghdad, Erbil and cause a decline in world market prices
Wednesday, 03 December 2014
Twilight news, as oil prices resumed their fall as low as three percent under pressure from the agreement will add further swollen Iraqi crude to the market supply and increased margin requirements for trading in us crude futures and the rise of the u.s. dollar.
Oil decline came after the previous day's record largest recovery in two years.
And the Iraqi Government reached a tentative agreement with Kurdistan region Tuesday to end a dispute over oil exports.
Scheduled under the agreement to export 300,000 barrels of oil from the Kirkuk pipeline breaks the Kurdish territories to Turkey in addition to 250,000 barrels a day from fields in the same region.
And futures price of crude oil Brent blend crude at $ 2 a settlement or 2.76 percent to 70.54 dollars a barrel.
Futures price fell to crude oil at $ 2.12 settlement or 3.07 percent to 66.88 dollars a barrel after the Hui at to 66.72 dollars. Crude rose four percent on Monday registered the biggest daily rise since August 2012.
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Wednesday, 03 December 2014
Twilight news, as oil prices resumed their fall as low as three percent under pressure from the agreement will add further swollen Iraqi crude to the market supply and increased margin requirements for trading in us crude futures and the rise of the u.s. dollar.
Oil decline came after the previous day's record largest recovery in two years.
And the Iraqi Government reached a tentative agreement with Kurdistan region Tuesday to end a dispute over oil exports.
Scheduled under the agreement to export 300,000 barrels of oil from the Kirkuk pipeline breaks the Kurdish territories to Turkey in addition to 250,000 barrels a day from fields in the same region.
And futures price of crude oil Brent blend crude at $ 2 a settlement or 2.76 percent to 70.54 dollars a barrel.
Futures price fell to crude oil at $ 2.12 settlement or 3.07 percent to 66.88 dollars a barrel after the Hui at to 66.72 dollars. Crude rose four percent on Monday registered the biggest daily rise since August 2012.
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