{"id":16822,"date":"2025-02-24T03:08:54","date_gmt":"2025-02-24T03:08:54","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=16822"},"modified":"2025-02-24T03:08:54","modified_gmt":"2025-02-24T03:08:54","slug":"oil-prices-slip-on-kurdistan-export-prospects","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/oil-prices-slip-on-kurdistan-export-prospects\/","title":{"rendered":"Oil Prices Slip on Kurdistan Export Prospects"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/download-5-1024x559.png\" alt=\"\" class=\"wp-image-16825\" srcset=\"https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/download-5-1024x559.png 1024w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/download-5-300x164.png 300w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/download-5-768x419.png 768w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/download-5-500x273.png 500w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/download-5-400x218.png 400w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/download-5-350x191.png 350w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/download-5-200x109.png 200w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/download-5.png 1408w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Key Points<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>CL-OIL (WTI) down 3.09%, trading at $70.31 per barrel after falling from $73.13<\/strong><\/li>\n\n\n\n<li><strong>Brent crude trading lower at $74.23<\/strong> amid similar pressures<\/li>\n\n\n\n<li><strong>Potential Kurdistan oil export resumption<\/strong> expected to add supply pressure<\/li>\n\n\n\n<li><strong>Russia-Ukraine peace talks remain in focus<\/strong>, potentially impacting sanctions<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p><strong>CL-OIL (WTI)<\/strong> dropped sharply, down <strong>3.09% to close at $70.31 per barrel<\/strong>, after declining steadily from a recent high of <strong>$73.13<\/strong>. Brent crude futures also eased slightly, trading at <strong>$74.23 per barrel<\/strong>. Both benchmarks are continuing their downward trend after significant losses seen on Friday.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Kurdistan region&#39;s oil exports to resume next week, Iraqi minister says <a href=\"https:\/\/t.co\/ZoC5B0feRd\">https:\/\/t.co\/ZoC5B0feRd<\/a> <a href=\"https:\/\/t.co\/TYTNO7kaGQ\">pic.twitter.com\/TYTNO7kaGQ<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1891484048066801986?ref_src=twsrc%5Etfw\">February 17, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The drop in prices has primarily been driven by news that <strong>Iraq plans to resume crude exports of 185,000 barrels per day from Kurdistan\u2019s oilfields via the Iraq-Turkey pipeline<\/strong>, ending nearly two years of supply disruption. This added potential supply is weighing on the market sentiment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Peace Talks and Geopolitical Tension in Focus<\/h2>\n\n\n\n<p>Meanwhile, market participants are closely tracking the ongoing diplomatic discussions aimed at ending <strong>Russia\u2019s war in Ukraine<\/strong>, now entering its fourth year. <\/p>\n\n\n\n<p>European Union leaders have scheduled an <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-02-23\/eu-to-hold-special-summit-on-march-6-to-discuss-ukraine-defense\" title=\"\">extraordinary summit<\/a> for <strong>March 6<\/strong> to address support for Ukraine and European security. Recent <a href=\"https:\/\/www.reuters.com\/world\/key-takeaways-trump-putin-talks-ukraine-energy-nato-sanctions-2025-02-20\/\" title=\"\">controversial peace discussions<\/a> between the <strong>U.S. and Russia<\/strong>, excluding Ukraine and the EU, have added uncertainty to the outlook.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-02-21\/russia-is-unmoved-by-trump-s-sanctions-threats-and-offers-on-war\" title=\"\">Sanctions from the U.S.<\/a> and <a href=\"https:\/\/abcnews.go.com\/International\/wireStory\/eu-envoys-approve-sanctions-russia-mark-anniversary-war-118956172\" title=\"\">EU<\/a> on Russia have significantly disrupted oil supply, and any progress toward peace could potentially ease restrictions, increasing global energy flows.<\/p>\n\n\n\n<p>Additionally, tensions remain in the Middle East, where Israel and Hamas continue <a href=\"https:\/\/www.bing.com\/search?q=israle+hamas+ceasefire&amp;cvid=940a8195b9b444d69398fd98ce9c23ae&amp;gs_lcrp=EgRlZGdlKgYIABBFGDkyBggAEEUYOTIGCAEQABhAMgYIAhAAGEAyBggDEAAYQDIGCAQQABhAMgYIBRAAGEAyBggGEAAYQDIGCAcQABhAMgYICBAAGEAyCAgJEOkHGPxV0gEINDQwMmowajSoAgCwAgA&amp;FORM=ANAB01&amp;PC=DCTS\" title=\"\">indirect talks on maintaining a ceasefire agreement<\/a>, contingent upon the release of Palestinian prisoners.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis: CL-OIL Faces Continued Bearish Pressure<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"446\" src=\"https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-1024x446.jpg\" alt=\"\" class=\"wp-image-16826\" srcset=\"https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-1024x446.jpg 1024w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-300x131.jpg 300w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-768x335.jpg 768w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-1536x669.jpg 1536w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-2048x892.jpg 2048w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-500x218.jpg 500w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-400x174.jpg 400w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-350x152.jpg 350w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/02\/1-200x87.jpg 200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: Oil slides to $70.315 amid rising selling pressure; key support at $70.035 tested, as seen on the\u00a0<a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p><strong>CL-OIL<\/strong> (Crude oil) closed sharply lower at <strong>$70.315<\/strong>, marking a significant 3.09% decline from its opening price of <strong>$72.557<\/strong>. The session saw persistent bearish pressure, pushing prices down to a low of <strong>$70.055<\/strong>. <\/p>\n\n\n\n<p>The moving averages (MA 5,10,30) align firmly bearish, with price action consistently trading below these indicators, suggesting robust downward momentum. The MACD (12,26,9) remains negative but shows diminishing bearish strength, hinting at a potential pause or brief consolidation in selling pressure.<\/p>\n\n\n\n<p>Immediate support is evident at the recent low of <strong>$70.035<\/strong>, while resistance has formed notably higher at <strong>$71.295<\/strong>. Traders should closely watch these levels\u2014any breach below support might lead to further selling pressure, whereas a move back above resistance could indicate buyers attempting to regain control.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Market Outlook<\/h2>\n\n\n\n<p>CL-OIL <strong>may see further volatility<\/strong> as traders assess incoming supply dynamics from Kurdistan, progress in Russia-Ukraine talks, and broader geopolitical developments. Any significant updates regarding peace negotiations or sanctions could trigger sharp price movements in the short term.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a><\/strong><strong>&nbsp;and&nbsp;<\/strong><strong><a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a><\/strong><strong>&nbsp;now.<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.vtmarkets.com\/#facebook\" rel=\"noreferrer noopener\" target=\"_blank\"><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.vtmarkets.com\/#facebook\" rel=\"noreferrer noopener\" target=\"_blank\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CL-OIL slips 3.09% to $70.31 amid potential Kurdistan exports resumption and Russia-Ukraine peace talk uncertainty. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":2,"featured_media":16825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[34],"class_list":["post-16822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-oil"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/16822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=16822"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/16822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media\/16825"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=16822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=16822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=16822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}