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Oil prices rise, supported by Iran's upcoming sanctions and Basra events
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Follow - up / ... stepped up crude oil prices in trading on Monday, backed by US sanctions against Iran expected, security and current events and protests in the Iraqi province of Basra.
Traders in the oil markets fear oil supplies will drop too much when the United States imposes sanctions on Iran in November.
Basra, southern Iraq, is witnessing a wave of protests and intrusions by demonstrators, leading to fears of poor supplies from the province, which has most of the oil reserves, and through its ports crude is exported.
Brent crude for November delivery rose 0.85 percent, or 63 cents, to $ 77.47 a barrel by 0639 GMT.
By 0.69 percent, or 47 cents, US crude for October delivery rose to $ 68.22 a barrel.
The fears of dealers, despite statements by Iraqi Oil Minister Abdul-Jabbar al-Allaibi, yesterday, in which he stressed that the production and supply of oil, because of the events in Basra.
Basra is the center of the oil industry in Iraq, producing about 80 percent of the country's exports, and it is the only mariti
[You must be registered and logged in to see this link.]
Follow - up / ... stepped up crude oil prices in trading on Monday, backed by US sanctions against Iran expected, security and current events and protests in the Iraqi province of Basra.
Traders in the oil markets fear oil supplies will drop too much when the United States imposes sanctions on Iran in November.
Basra, southern Iraq, is witnessing a wave of protests and intrusions by demonstrators, leading to fears of poor supplies from the province, which has most of the oil reserves, and through its ports crude is exported.
Brent crude for November delivery rose 0.85 percent, or 63 cents, to $ 77.47 a barrel by 0639 GMT.
By 0.69 percent, or 47 cents, US crude for October delivery rose to $ 68.22 a barrel.
The fears of dealers, despite statements by Iraqi Oil Minister Abdul-Jabbar al-Allaibi, yesterday, in which he stressed that the production and supply of oil, because of the events in Basra.
Basra is the center of the oil industry in Iraq, producing about 80 percent of the country's exports, and it is the only mariti
[You must be registered and logged in to see this link.]
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