{"id":53179,"date":"2014-06-23T09:20:12","date_gmt":"2014-06-23T13:20:12","guid":{"rendered":"http:\/\/countingpips.com\/?p=53179"},"modified":"2014-06-23T09:20:12","modified_gmt":"2014-06-23T13:20:12","slug":"crude-prices-climbs-on-escalated-turmoil-in-iraq","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/crude-prices-climbs-on-escalated-turmoil-in-iraq\/","title":{"rendered":"Crude Prices Climbs on Escalated Turmoil in Iraq"},"content":{"rendered":"
June 23, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Crude oil prices continued to trade higher on Monday as Brent crude traded near its highest level since September. Meanwhile, the ongoing conflict in Iraq continues to remain in the spotlight as Sunni militants moved close towards the nation\u2019s capital, Baghdad over the weekend.<\/p>\n

An upbeat Chinese manufacturing data boosted oil prices as analysts forecast higher demand from the world\u2019s second biggest oil consumer.<\/span> The Manufacturing Purchasing Managers\u2019 Index (PMI) data for the US, the world largest economy; is expected to be released later in the day.<\/p>\n

Futures for the US benchmark, West Texas Intermediate (WTI) climbed 0.35% to $107.22 a barrel on the New York Mercantile Exchange at the time of writing. While the European benchmark Brent crude gained 0.30% to $115.16 a barrel on the ICE Futures Europe exchange at the same time.<\/p>\n

Crude – Iraq<\/span><\/h2>\n

Over the weekend, the turmoil in Iraq escalated as Sunni militants increased their attacks and moved closer towards the nation\u2019s capital and Iraq\u2019s western Anbar province. The crises in Iraq have raised worries over oil supplies may be disrupted from OPEC\u2019s second-biggest crude producer.<\/p>\n

Fighters in Iraq and the Levant gained control of Iraq\u2019s border to Jordan and Syria, according to Hameed Ahmed Hashim, a member of the Anbar provincial council.<\/p>

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Last week, US President Barack Obama said he\u2019s sending 300 military advisers\u2019 to Iraq and some air support could happen, however the US will not send ground troops as the US soldiers left the country in 2011.<\/p>\n

China<\/span><\/h2>\n

A preliminary China Purchasing Managers index from HSBC and Markit Economics came in at 50.8 in June, exceeding analysts\u2019 estimates of 49.7 and compared to the previous reading of 49.4 seen in May.<\/p>\n

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

By HY Markets Forex Blog Crude oil prices continued to trade higher on Monday as Brent crude traded near its highest level since September. Meanwhile, the ongoing conflict in Iraq continues to remain in the spotlight as Sunni militants moved close towards the nation\u2019s capital, Baghdad over the weekend. An upbeat Chinese manufacturing data boosted […]<\/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-53179","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53179","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=53179"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53179\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=53179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=53179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=53179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}