{"id":53507,"date":"2014-06-30T07:49:52","date_gmt":"2014-06-30T11:49:52","guid":{"rendered":"http:\/\/countingpips.com\/?p=53507"},"modified":"2014-06-30T07:49:52","modified_gmt":"2014-06-30T11:49:52","slug":"crude-trades-lower-as-iraq-violence-escalates","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/crude-trades-lower-as-iraq-violence-escalates\/","title":{"rendered":"Crude Trades Lower as Iraq Violence Escalates"},"content":{"rendered":"
June 30, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Crude prices were seen trading lower on Monday, extending losses from the previous week as traders speculate that the ongoing crises between the Iraqi government and the Sunni militants will not weigh on the country\u2019s oil supply; OPEC\u2019s second-largest oil producer.<\/p>\n

Futures for the West Texas Intermediate (WTI) fell 0.27% lower at $105.46 a barrel on the New York Mercantile Exchange at the time of writing.<\/span><\/p>\n

While the European benchmark Brent Crude fell 0.25% at $113.02 a barrel on the ICE Futures Europe exchange based in London at the same time.<\/p>\n

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

Iraqi army forces continue to fight against the Sunni militants over the weekend as they tried to reclaim the town of Tikrit from the Islamist State in Iraq and Syria (ISIS) Fighters, who declared an Islamic caliphate in the region\u2019s they have occupied in Iraq and Syria on Sunday.<\/p>\n

The US continues to support the Iraqi government with air strikes, while the Russian military is helping to organize Iraq\u2019s air force to recapture areas of the country held by Islamist militants.<\/p>

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Iraq pumped 3.3 million barrels a day of crude in May, according to analysts.<\/p>\n

Libya<\/span><\/h2>\n

In Libya, the port of Es Sider may be reopened in August after the new parliament convenes, according to the rebels that closed the nation\u2019s biggest oil-export terminal after tensions between the rebels and the government eased. Libya is still counting last Wednesday\u2019s votes for the parliamentary election and would need two weeks or more to finalize the votes, the election commission said over the weekend.<\/p>\n

Due to the ongoing unrest, the country has become the smallest producer in OPEC in the past year.<\/p>\n

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

By HY Markets Forex Blog Crude prices were seen trading lower on Monday, extending losses from the previous week as traders speculate that the ongoing crises between the Iraqi government and the Sunni militants will not weigh on the country\u2019s oil supply; OPEC\u2019s second-largest oil producer. Futures for the West Texas Intermediate (WTI) fell 0.27% […]<\/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-53507","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53507","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=53507"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53507\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=53507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=53507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=53507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}