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
Bahrain could cash in on instability in Iraq, thanks to an initiative to persuade wealthy Iraqi businessmen to invest their money here. A new company that hopes to attract Iraqi investment into Bahrain is due to be formed early next year. The
Gulf Keystone Petroleum has said it had been paid for oil exports by the government of Iraqi Kurdistan, a sign it is serious about making regular payments to producers after months of debt building up.
Iraqi Kurdistan reduced its transfers of oil to the Iraq State Oil Marketing Organization (Somo) by half in July to an average of 71,017 barrels per day (bpd), as the autonomous region continued independent exports, its Ministry of Natural Res
The US Congress has approved an annual defence policy bill that authorises American training for Iraqi and Syrian forces fighting Islamic State rebels and sets overall defence spending at $577 billion, including $64 billion for wars abroad.
Islamic State militants executed at least 220 Iraqis in retaliation against a tribe's opposition to their takeover of territory west of Baghdad, security sources and witnesses said.
Two mass graves were discovered containing s
Britain said on Tuesday it would send machine guns and ammunition to Iraq to help the new government in its battle against Islamic State militants, the first weapons it has supplied since the conflict that flared in June.
At least 70 Iraqi worshippers were killed in a mosque carnage in a volatile province outside Baghdad yesterday (August 22), a report said.
Militants first detonated a bomb near the entrance of the Sunni mosque and then used machin
A tanker carrying crude oil from Iraqi Kurdistan is just two days away from arriving at a US port, according to ship tracking satellites, despite Washington's long-standing concern over independent oil sales
A second tanker carrying piped crude oil from Iraqi Kurdistan has departed Turkey's Mediterranean port of Ceyhan, Turkish Energy Minister Taner Yildiz said on Tuesday.
Yildiz said the tanker sailed towards