Oil futures declines on Monday with fears of Iraq

Oil futures declines on Monday with fears of Iraq

30 June 2014, 11:59
Anton Esin
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On the New York Mercantile Exchange, crude oil for delivery in August fell to a session low of $105.09 a barrel (minimal since June 26), before trimming losses to last trade at $105.20 during European morning hours, down 0.53%, or 55 cents.

U.S. oil futures ended down 0.09%, or 10 cents, on Friday to settle at $105.74. New York-traded oil futures were likely to find support at $105.03 a barrel, the low from June 26 and resistance at $106.81 a barrel, the high from June 26.

On the ICE Futures Exchange in London, Brent oil for August delivery dipped 0.54%, or 61 cents, to trade at $112.69 a barrel (minimal since June 17).

Oil prices continued their downward trend in recent sessions amid indications Iraqi oil exports from the southern part of the country remained insulated from the sectarian violence that has swept the north in recent weeks.

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