VIENNA, Austria - Oil prices retreated Wednesday from record highs above $88 a barrel overnight amid expectations a fuel report due later in the day would show U.S. crude and gasoline stocks rose last week.
Still, prices remained supported by concerns a Turkish incursion into Iraq in search of Kurdish rebels could disrupt crude supplies.
Turkey's parliament is expected Wednesday to agree that the government can launch a cross-border attack into Iraq sometime over the next year. The government has said an offensive against the rebels in northern Iraq will not immediately follow the authorization.
An incursion would threaten the pipeline that runs from Kirkuk, in …
No comments:
Post a Comment