Oil Falls 2% as Iraqi Oilfield Production Restored, Ukraine Talks Continue

Oil falls 2% as Iraqi oilfield production restored, Ukraine talks continue

HOUSTON, Dec 8 : Oil prices slipped 2 per cent on Monday after Iraq restored production at one of its oilfields which accounts for 0.5 per cent of world oil supply, while investors weighed ongoing talks to end the war in Ukraine. Brent crude futures were down $1.26, or 1.98 per cent, at $62.49 a barrel, whil

WTI Oil dips on Iraq output recovery, Fed rate cut hopes limit losses

West Texas Intermediate (WTI) US Oil trades around $58.50 on Tuesday at the time of writing, down 0.40% on the day. The Crude Oil market is declining after the announcement of restored production at Iraq’s West Qurna 2 field, a development that increases short-term supply and pressures Oil prices.

Oil Prices Fall as Iraqi Production is Restored, Ukraine Talks Continue

Oil prices slipped more than $1 on Monday after Iraq restored production at one of its oilfields which accounts for 0.5% of world oil supply, while investors weighed ongoing talks to end the war in Ukraine.Brent crude futures were down $1.07, or 1.68%, at $62.68 a barrel by 11:05 p.m.