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Oil prices diverge on Iraq tensions NEW YORK: Oil prices diverged on Friday, with the US WTI contract hitting a nine-month high on concerns about spreading sectarian conflict in Iraq that could cause disruptions in crude supplies.US benchmark West Texas Intermediate for July shot up 83 cents, or 0.8 percent, to finish at $107.26 a barrel on the New York Mercantile Exchange. The July futures contract expired Friday at the highest closing price since September 18 last year.Brent crude for delivery in August eased back from its nine-month high the previous day, shedding 25 cents to settle at $114.81 a barrel in London."Brent crude oil is seeing a moderate correction to its recent advance on profit taking ahead of the weekend, as Iraq gathers more than 50,000 troops for a campaign against the Islamist insurgents who seized control of much of northern Iraq last week," said Tim Evans of Citi Futures. US President Barack Obama on ...

US generation of ethanol blending credit rises: EPA NEW YORK: Generation of ethanol blending credits in the United States accelerated in May with 1.22 billion D6 Renewable Identification Number (RIN) credits generated against 1.20 billion in April, data from the Environmental Protection Agency showed on Friday.Some 230 million D4 biodiesel RINs were generated in May against 223 million, and 27 million D5 advanced biofuel RINs versus 24 million previously. No cellulosic RINs were generated, the first time since August 2013.The credits are used ...
Global oil prices diverge as market eyes Iraq NEW YORK: Global oil prices diverged on Wednesday as the leading US benchmark fell following an American energy inventory report while the main European contract rose in response to more violence in Iraq.US benchmark West Texas Intermediate for July delivery fell 39 cents to $105.97 a barrel on the New York Mercantile Exchange.But Brent oil for August delivery, which is traded in London, advanced 81 cents to $114.26 a barrel.Wednesday's trade was similar to Tuesday, ...
Oil prices diverge amid Iraq, US inventories concerns NEW YORK: Global oil prices were mixed Tuesday, a day ahead of US data expected to show a rise in crude inventories, while traders kept watch on the escalating Iraq crisis.US benchmark West Texas Intermediate for July delivery finished at $106.36 a barrel on the New York Mercantile Exchange, down 54 cents from Monday's close.In London, Brent North Sea crude for August delivery rose 51 cents to $113.45 a barrel, its highest close since September ...
Oil steady above $113 as Iraq fears offset Iran-West relations NEW YORK: Brent oil held steady above $113 per barrel on Tuesday and US crude weakened slightly as fears over oil supply disruptions from Iraq offset thawing relations between Iran and the West.Scores of Iraqis were killed on Tuesday during a battle for the provincial capital of Baquba as an uprising by Sunni insurgents continued to threaten the disintegration of Iraq.The fighting also shut the country's main oil refinery, starving parts of the country of ...
Crude oil rises as Iraq violence fuels supply worry NEW YORK: Crude oil futures pushed higher in choppy trading on Monday as advances by insurgents in Iraq fueled concerns over a potential disruption to oil exports from the second-largest OPEC producer.Both Brent and U.S. crude added to last week's gains of more than 4 percent, the most since July and December, respectively, sparked by the eruption of violence in Iraq.The rally lost some steam on Monday as the market waited to see if crude ...
Oil prices hit new nine-month peaks on Iraq violence NEW YORK: Global oil prices surged to fresh nine-month highs on Friday as traders eyed escalating violence in Iraq, OPEC's second-biggest crude exporter.US benchmark West Texas Intermediate (WTI) for July rose 38 cents to close at $106.91 a barrel, its highest level since September 18, 2013.Brent crude for July delivery climbed 39 cents to $113.41 a barrel in London trade, its highest close since September 9.Prices had rallied sharply on Thursday, more than $2 for ...


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Foreign Debt $61.805bn
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WeeklyAugust 28, 2014
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