Oil prices jumped 1 per cent on Monday as Iraqi forces entered the oil-rich city of Kirkuk, taking territory from Kurdish fighters and briefly cutting some crude output from Opec's second-largest producer. "We're seeing increased geopolitical tension in the Middle East providing support in the market on Friday, namely in Iraqi Kurdistan, and some uncertainty around Iran," said Anthony Headrick, energy market analyst at CHS Hedging LLC in Inver Grove Heights, Minnesota. Iraq's Kurdistan briefly shut down some 350,000 barrels per day (bpd) of production from ...
Oil jumps 1%; fighting shuts crude output in Iraq's Kirkuk
Iraq's Kurdistan briefly shut down some 350,000 barrels per day (bpd) of production from major fields Bai Hassan and Avana due to security concerns