Oil Rises $1/bbl as Restart of Kurdish Oil Exports Stalls
Oil prices rose by more than $1 a barrel on Tuesday after a deal to resume exports from Iraq's Kurdistan stalled, pacifying some investor concerns that the restart would add to global oversupply fears.
Brent crude futures were up $1.18, or 1.8%, to $67.75 a barrel by 10:38 a.m. EDT (1438 GMT), while U.S. West Texas Intermediate crude rose $1.27, or 2%, to $63.55 a barrel, both recouping modest earlier losses.
Pipeline oil exports from Iraq's Kurdistan region to Turkey had yet to restart on Tuesday despite hopes of a deal to end the deadlock, as two key producers asked for debt repayment guarantees...
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