{"id":53019,"date":"2014-06-19T08:57:55","date_gmt":"2014-06-19T12:57:55","guid":{"rendered":"http:\/\/countingpips.com\/?p=53019"},"modified":"2014-06-19T14:15:56","modified_gmt":"2014-06-19T18:15:56","slug":"crude-climbs-on-iraq-conflict","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/crude-climbs-on-iraq-conflict\/","title":{"rendered":"Crude Climbs on Iraq Conflict"},"content":{"rendered":"
June 19, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Futures for the West Texas Intermediate (WTI) crude rose for the first time in four days, while Brent crude climbed to a nine-month high as the turmoil in Iraq continues and report showed a sharp drop in US crude supplies.<\/p>\n

Futures for the US benchmark West Texas Intermediate dropped to a low $105.37 a barrel on Wednesday, but picked up over night to trade at $106.26 a barrel on the New York Mercantile Exchange on Thursday.<\/span><\/p>\n

While the European benchmark Brent crude traded 0.36% higher at $114.66 a barrel on the London-based ICE Futures Europe exchange, the higher level since Sept 9.<\/p>\n

US Crude Supplies<\/span><\/h2>\n

Crude stockpiles in the US, the world\u2019s biggest oil consumer, dropped for a third week to 386.3 million barrels in the week ending June 13, according to reports released by the Energy Information Administration on Wednesday.<\/p>\n

Gasoline stockpiles climbed by 785,000 barrels to 214.3 million compared to analysts forecasts of a drop of 550,000 barrels.<\/p>

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Iraq<\/span><\/h2>\n

Last week, the European benchmark Bent crude rallied 4.4%, the highest since July as the ongoing turmoil in Iraq raise worries over the disruption of oil supplies.<\/p>\n

Security forces in Iraq has regained control of the Baiji oil refinery, the nation\u2019s largest oil refinery as the US President Barack Obama said he will not need the congressional approval for\u00a0 his consideration over the crises.<\/p>\n

As the conflict spreads to the southern region of the country, where the EIA predicts is the main source for three-quarter of Iraqi oil production, the Kirkuk oil field is being defended by Kurdish forces.<\/p>\n

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The post Crude Climbs on Iraq Conflict<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Futures for the West Texas Intermediate (WTI) crude rose for the first time in four days, while Brent crude climbed to a nine-month high as the turmoil in Iraq continues and report showed a sharp drop in US crude supplies. Futures for the US benchmark West Texas Intermediate dropped to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-53019","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=53019"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53019\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=53019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=53019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=53019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}