LONDON/NEW YORK: Oil prices rose to their highest in nearly two months yesterday, supported by concerns over escalating conflict with Islamic State militants in Libya and a threat to withhold exports from Iraq’s semi-autonomous Kurdish region. But following the collapse of Greek debt talks offset growing violence in Libya and concerns over exports from Kurdistan. In thin activity, oil prices had earlier pushed to a new 2015 high amid supply worries in two big oil producers.
In Iraq, a deal aimed at resolving a dispute between Baghdad and Kurdish authorities over oil export revenues looked fragile after Kurdish Prime Minister Nechirvan Barzani cautioned Baghdad against breaking its side of the bargain. The December pact allowed for shipping some 550,000 barrels per day of oil.
Benchmark Brent futures slipped 3 cents to $61.49 a barrel by 2000 GMT after reaching an intra-day peak of $62.57 a barrel, the highest since December 22.
US March crude futures were unchanged at $52.78 a barrel, with trading volume of just over 100,000 lots. Reuters
