Oil climbs on Iraq and Ecuador unrest, regional tensions - Reuters:
Oil prices increased on Tuesday as unrest in Iraq and Ecuador raised supply concerns, but worries about U.S.-China trade negotiations capped the market’s gains after U.S. President Donald Trump said a quick deal was unlikely.
Brent crude LCOc1 rose 43 cents, or 0.7%, to $58.78 a barrel by 0903 GMT. U.S. West Texas Intermediate crude CLc1 was at $53.12, up 37 cents, or 0.7%.
Protests in OPEC members Iraq and Ecuador threatened to disrupt their oil output. The death toll in Iraq, the second-largest producer in the Organization of the Petroleum Exporting Countries, has climbed after a week of unrest.
No comments:
Post a Comment