Home
[size=36]Oil falls more than 3% on concerns of oversupply[/size]
Economy | 08:20 - 02/05/2019
BAGHDAD -
Oil prices fell sharply during trading on Thursday, with US crude falling more than 3 percent as the market was hit by worries about oversupply that covered US termination of exemptions for some crude purchases from Iran and a sharp increase in oil inventories in the states United Nations.
US crude fell $ 2.40, or 3.77 percent, to $ 61.20 a barrel by 1810 GMT, heading for its biggest weekly drop since February.
Brent crude futures fell $ 2.25, or 3.10 percent, to $ 69.93 a barrel.
Oil prices fell sharply during trading on Thursday, with US crude falling more than 3 percent as the market was hit by worries about oversupply that covered US termination of exemptions for some crude purchases from Iran and a sharp increase in oil inventories in the states United Nations.
US crude fell $ 2.40, or 3.77 percent, to $ 61.20 a barrel by 1810 GMT, heading for its biggest weekly drop since February.
Brent crude futures fell $ 2.25, or 3.10 percent, to $ 69.93 a barrel.
» utube 6/13/24 MM&C IQD Update-Iraqi Dinar-2024 Budget Gazzette-Dollar Decline-WTO Working Group Ju
» Minister of Labor: We call on all media organizations to register their journalists under the Social
» Al-Sudani confirms the progress of the fight against corruption “in every corner where it hides”
» Iranian Ambassador: We support the unity of Iraq
» Popular demands to activate laws to restrict weapons and address the arms chaos in Iraq
» State of law: The new American ambassador violated Iraqi sovereignty before her arrival
» American officials: The safety of our soldiers in Iraq is more important than dragging us into a con
» The ambassador's statements are sovereign violations... and the absence of a response harms Iraq
» The new American ambassador...provocative statements and hidden intentions
» In light of her offensive statements... Politician: The American ambassador is trying to gauge the w
» Anbari official: The governorate’s budget only covers 20% of Ramadi’s requirements
» Iraq imports vegetables and fruits worth $50 million from Türkiye in a month
» Iraq appreciates Tunisia's decision to lift visas for Iraqis to enter its territory
» Parliamentary praise for the agriculture budget: equivalent to 3 times what was allocated in 10 year
» Iran: $10 billion worth of our annual exports to Iraq
» A new clarification from Parliament Finance regarding the job staffing law.. When will it be voted o
» Iraq is preparing to establish a project that will change the oil map.. Will it affect energy produc
» For the second year in a row... oil refining capacity has increased in America
» The Service Council sets an interview date for applicants for appointment who hold a master’s degree
» Al-Sudani directs a package of measures to provide job opportunities for graduates in Dhi Qar
» Hussein arrives in Switzerland to participate in the "Peace in Ukraine" summit
» Meat and Eid are at loggerheads in Iraq this year... Eid Al-Adha came with a “mid-month drought”
» A "livestock crisis" in Iraq is accompanied by a search for a "protein" alternative and fear of dead
» Warnings in Anbar about the repercussions of the US ambassador’s interference in the country’s affai
» The Foreign Minister invites the High Representative of the European Union to visit Iraq
» Iraq.. The curse of corruption is strangling the electricity arteries
» Al-Hayani: The region refuses the entry of Iraqi forces to protect it from Turkish bombing
» Abdel Joudah: America sees Iraq as part of its international orbit
» “Finance”: The staffing law will determine the job grades needed by ministries and departments
» A digital center calls for adopting visits to Iraqi prison inmates via the Internet
» Al-Sudani directs the Ministry of Finance to finance projects in Dhi Qar with an amount of 50 billio
» Iran identifies three main components of its policy towards Iraq
» Al-Sudani directs to provide job opportunities for graduates in Dhi Qar
» Al-Araji to the American Ambassador: The paths of the Sudanese government enjoy support from various
» Al-Sudani congratulates Eid Al-Adha: We affirm the progress of combating social ills and corruption
» A significant increase in Iraq's oil exports to America
» After the stock market stopped, the dollar exchange rates stabilized in Baghdad
» utube 6/11/24 MM&C Iraq Dinar-IQD Update-2024 Budget Dispurse-Legally Resolved-CBI- EU-IMF Support
» Changing the oil map: An Iraqi project affecting energy producers
» Sales of the Central Bank of Iraq exceed one billion dollars within a week
» Electronic payment in Iraq: huge profits for companies at the expense of citizens
» The President of the Republic: The necessity of providing support and legislation guaranteeing freed
» Transparency: Imports from Sulaymaniyah and Halabja during the past week amounted to about 8 billion
» Mayor of Baghdad: Our water purification projects conform to international health specifications
» The “new” American ambassador to Iraq attacks the factions: I will fight their influence in Iraq
» Iran blows the whistle on increasing daily oil production from a field shared with Iraq
» The fate of democracy in Kurdistan: between postponement, manipulation, and sharing the “cake”
» Creating a unit to extract oil from plastic waste with the help of water
» Movement to establish a petrochemical city in Diyala
» Parliamentary Integrity: Extending the Basra Pipeline - an obstacle to wasting Iraqi money
» The Security Committee shows the results of combating electronic blackmail
» Parliament moves against companies that support the Zionist entity
» A representative calls for doubling the service effort and increasing allocations to Nineveh
» Exploiting the Halfaya field gas increases electricity production in Iraq
» Baghdad sends 20 billion dinars to the Kurdistan Region in farmers’ dues
» Al-Sudani: The government is following a new approach aimed at activating the private sector
» Iraq announces the results of the experimental census
» Parliamentary Energy regarding the dismissal of officials in the Ministry of Electricity: They were
» Iraq sets a date for closing the Sulaymaniyah camps.. How many displaced people remain?
» To ensure energy supply...a government confirmation of the supply of electricity with fuel
» Kurdistan and Iran discuss economic and trade fields
» Deploying ATM machines in Rafidain Bank branches
» “There is no control over it.” Parliamentary Finance opens the file of providing travelers with doll
» “Public threats to obstruct it.” The Sudanese government faces a challenge to complete the project t
» The new candidate for the US Embassy reviews her list of priorities in Iraq
» Between the past and the present...the history of car numbers in Iraq and their connection to politi
» The Defense Parliament demands the opening of a full investigation into the livelihoods of defense p
» Fears of procrastination regarding the evacuation of foreign forces from the country
» Condition of pledging not to act... releasing containers piled up in ports “that do not have an insp
» Government monitoring committees to “prevent the exploitation of tourists” in Kurdistan
» Parliament reveals the reasons for not recognizing private universities and colleges in the Kurdista
» 4 important files in an Iraqi governorate receive “direct directions” from Al-Sudani
» Parliament hints at a “revolution” in implementing laws in the new legislative term
» The dollar continues to fly in Baghdad markets
» Oil confirms the supply of electricity with fuel to prepare energy and indicates a decline in “gas”
» Golden days for sellers...the recession hits the “Eid sacrifices” market in Diyala and the prices ar
» “Iraq in a Minute” is a tour of the latest developments today
» Officially... Iraq is removed from the list of using children in armed conflicts
» An economist explains the causes of the housing crisis and confirms: New cities are the solution to
» Al-Mandalawi congratulates the journalistic family on the anniversary of Iraqi Press Day
» Judge Hanoun appreciates the role of the Iraqi press in exposing corruption files
» Iraqis resort to “gold bullion” instead of money, and the banking system is dying
» Iraq signs an agreement with "IFC" to develop the stock market
» Transparency: Imports from Sulaymaniyah and Halabja during the past week amounted to about 8 billion
» Abu Ragheef: The international community and the regional environment are monitoring the Iraqi polit
» Rafidain Bank begins deploying ATMs in its main branches
» Masrour Barzani and Bagheri stress the development of trade and economic relations between Iraq and
» Al-Sudani: Some parties sought to use the name of the PMF to carry out what deviates from its duties
» The Financial Supervision Authority announces the development of a systematic plan to complete the f
» The Minister of Electricity praises the signing of the financing agreement to connect the Gulf syste
» OPEC Secretary General: We do not expect demand for oil to reach its peak in the long term
» The House of Representatives sends the decision to approve the budget schedules to the Presidency of
» Electricity grants branch managers of distribution companies the authority to purchase transformers
» Labor announces the launch of “Eidiya” for retired insured workers
» Request to hold an emergency session of the Basra Council to discuss “dangerous pollution” (document
» The shutdown of "Iranian lines" puts one million people in eastern Iraq in crisis
» Retroactively... filing a lawsuit against the Ministry of Finance over the 2023 budget
» Parliament reveals the reasons for not recognizing private universities and colleges in the Kurdista