Oil rises after a short stop for raw uploads in Iraq

2016/7/12 11:57

{Baghdad: Euphrates news} futures oil prices rose from their lowest levels in two months Tuesday after Iraq crude uploads stopped briefly to alert the shrinking supply but low bets investors rise of crude prices.

By 0712 GMT raw world measurement rate Brent 46.72 dollars a barrel, up 47 cents or one percent from its level when the former settlement away from the level of $ 45.90 a barrel in the previous session.
And the price of WTI 37 u.s. cents to 45.13 dollars per barrel.

Some traders said the rise was due largely to the tanker loading operations suspended by the Basra light crude briefly in Iraq's southern export ports after a leak in a pipeline.
Despite the resumption of downloads later Iraq plans to cut crude oil exports from southern ports to 2.79 million barrels per day in August from the 2.99 million barrels exported decision in July, according to initial program load operations.

Oil markets also received support from continued fueling surrounding production in Nigeria after militants said they had attacked Exxon Mobil and installations is denied by us giant oil company.
Though not approaching the world oil glut of extinction until now.

Saudi Arabia's Energy Minister, said Khalid Al-Falih Handelsblatt newspaper that there is still a surplus in world oil stocks and to reduce this surplus would take too long.
Hedge funds were reduced and other finance managers their bets on rising crude oil prices during the seven days that ended on the 5th of July.