Oil nears $99 on Iraq-Turkey row
Oil futures were higher on Friday, boosted by strong heating oil futures after seesawing early.
By TNN |
NEW YORK: Oil futures were higher on Friday, boosted by strong heating oil futures after seesawing early. Early trading seesawed amid economic growth concerns and rising US crude oil and gasoline inventories and supply worries related to an incursion into Iraq by Turkish troops.
US crude for April delivery was up 56 cents, or 0.6%, at $98.79 per barrel, trading from $97.16 to $99.37. In London, April Brent crude was up 72 cents, or 0.8%, at $96.96 a barrel, trading from $95.66 to $97.65.
The US Energy Information Administration said Thursday that in the week ended February 15 domestic crude stocks rose 4.2 million barrels. Meanwhile, Iraq���s government on Friday urged Turkey to respect its sovereignty after Turkish troops crossed the border to hunt for Kurdish rebels, but said it expected the operation to be limited.��� Reuters
US crude for April delivery was up 56 cents, or 0.6%, at $98.79 per barrel, trading from $97.16 to $99.37. In London, April Brent crude was up 72 cents, or 0.8%, at $96.96 a barrel, trading from $95.66 to $97.65.
The US Energy Information Administration said Thursday that in the week ended February 15 domestic crude stocks rose 4.2 million barrels. Meanwhile, Iraq���s government on Friday urged Turkey to respect its sovereignty after Turkish troops crossed the border to hunt for Kurdish rebels, but said it expected the operation to be limited.��� Reuters
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