Related Articles
Forward article link
Share PDF with colleagues

Crude prices fall to 13-month lows despite Iraq turmoil

The International Energy Agency said oil prices were "eerily calm"

Crude prices fell to their lowest levels in almost 14 months in mid-August, despite ongoing instability in Iraq. Brent fell to $101.60 per barrel (/b) on 18 August - its lowest level since June 2013 - as Iraqi and Kurdish troops regained control of Iraq's largest dam from Islamic State (IS) militants.  The International Energy Agency (IEA) said oil prices had been "almost eerily calm in the face of mounting geopolitical risks spanning an unusually large swathe of the oil-producing world".  After a spike in early June, crude prices fell throughout August as weak OECD refinery runs offset concerns about escalating conflicts in Iraq, Libya and Ukraine. WTI was also under pressure as US crude

Also in this section
Opec starts to ease cuts
22 June 2018
The group is seeking to return compliance to 100%, implying a sharp immediate rise in output. But the details are vague
Opec's risky metamorphosis
22 June 2018
The urge to create a bigger producer group based on the Declaration of Cooperation is changing Opec's power politics
Trump's spectre looms over tense Opec meeting
19 June 2018
Russia and Saudi Arabia plan to raise supply. The move will please the US but make for a rocky summit this week