Oil Declines after Iraq, Kurdistan Region Agreed to Resume ExportsSingapore, 23 Sep (ONA) — Oil prices today declined for a fifth consecutive session, as a preliminary agreement reached between Iraq and Kurdish regional governments to restart an oil pipeline added to oversupply concerns. Brent crude futures lost 42 cents or 0.63% at $66.15 a barrel, while US West Texas Intermediate (WTI) crude was down 36 cents or 0.58% at $61.92 a barrel. Both contracts sat on a five-session losing streak, down by 4%. Iraq’s federal and Kurdish regional governments reached a deal with oil firms to resume crude exports via Turkiye on Monday. The breakthrough will allow exports of about 230,000 barrels per day (bpd) to resume from Iraqi Kurdistan which have been suspended since March 2023.— Ends/Khalid
