Oil fell as rising exports from Iraq underlined the global oversupply situation, outweighing the effects of a surprise fall in US inventories the previous day.
Brent futures were at $39.51 at 1258 GMT, down 33
Oil rose above $42 a barrel, hitting its highest this year and extending a rally into a fourth week on expectations of a production freeze by major exporters, stronger seasonal demand and dollar weakness.
Brent crude fell below $108 a barrel on Tuesday to trade near a 7-week low on worries a shutdown of the US government may crimp oil demand, while investors also eyed easing tensions in US-Iran nuclear talks.
The US government bega
Bahrain is the world's fastest growing financial centre and has soared by 59 points, according to the third edition of The City of London's Global Financial Centres Index (GFCI3).
The report, which lists the top 50 rated financial cen