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[size=52]The Iraqi agreement upsets the balance of world oil prices[/size]
- Today 09:12
Information / Baghdad..
Oil prices fell on Tuesday, as the market waited to see if Iraqi exports through the Turkish port of Ceyhan would resume, which could ease the supply scarcity caused by OPEC cuts.
Brent crude fell eight cents to $84.38 a barrel, and US West Texas Intermediate crude fell seven cents to $80.65 a barrel.
A source in the office of Iraqi Oil Minister Hayan Abdul Ghani told Reuters on Monday that the minister arrived in the Turkish capital, Ankara, to discuss several issues, including the resumption of oil exports through the port of Ceyhan.
Meanwhile, pessimism about the economic outlook in China, the world's second largest oil consumer, put pressure on prices and increased concerns about fuel demand.
A preliminary poll by Reuters showed that it is expected that crude oil and gasoline inventories in the United States fell last week, which curbed the decline in oil prices.
The American Petroleum Institute is due to publish inventory data later on Tuesday. In turn, the Energy Information Administration, the statistical arm of the US Department of Energy, will release its data on Wednesday. End 25
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Oil prices fell on Tuesday, as the market waited to see if Iraqi exports through the Turkish port of Ceyhan would resume, which could ease the supply scarcity caused by OPEC cuts.
Brent crude fell eight cents to $84.38 a barrel, and US West Texas Intermediate crude fell seven cents to $80.65 a barrel.
A source in the office of Iraqi Oil Minister Hayan Abdul Ghani told Reuters on Monday that the minister arrived in the Turkish capital, Ankara, to discuss several issues, including the resumption of oil exports through the port of Ceyhan.
Meanwhile, pessimism about the economic outlook in China, the world's second largest oil consumer, put pressure on prices and increased concerns about fuel demand.
A preliminary poll by Reuters showed that it is expected that crude oil and gasoline inventories in the United States fell last week, which curbed the decline in oil prices.
The American Petroleum Institute is due to publish inventory data later on Tuesday. In turn, the Energy Information Administration, the statistical arm of the US Department of Energy, will release its data on Wednesday. End 25
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