#GCC and #MiddleEast Finance News: Oil Pares Gain as Blasted Iraq-Turkey Pipe Set to Restart Flows

Wednesday 19 January 2022

PRICES
West Texas Intermediate for February delivery was 0.8% higher at $86.07 a barrel on the New York Mercantile Exchange at 7:43 a.m. in London after gaining as much as 1.9% earlier. Brent for March settlement also pared gains, trading 0.5% higher at $87.92 a barrel on the ICE Futures Europe exchange. The prompt timespread for Brent was 73 cents a barrel in backwardation, compared with 69 cents a week earlier.

PRICES

West Texas Intermediate for February delivery was 0.8% higher at $86.07 a barrel on the New York Mercantile Exchange at 7:43 a.m. in London after gaining as much as 1.9% earlier.
Brent for March settlement also pared gains, trading 0.5% higher at $87.92 a barrel on the ICE Futures Europe exchange.
The prompt timespread for Brent was 73 cents a barrel in backwardation, compared with 69 cents a week earlier.