Watching the World
Iraqi exports ploy

Iraq's brief suspension of oil exports in defiance of the United Nations pushed the price of dated Brent crude above $26/bbl for the first time since the Persian Gulf crisis of 1990.While the price has fallen since-dated Brent closed at $25.29/bbl in London on Nov. 30, while January-delivery Brent stood at $24.54/bbl-there is enough uncertainty about Baghdad's intentions to suggest it may surge again.At OGJ presstime, the UN Security Council was preparing to vote on a draft resolution, proposed by the UK, for a limited lifting of sanctions against Iraq on condition that Baghdad allow UN weapons inspectors to resume cataloging its arsenal of weapons of mass destruction.Iraq curbed ex...

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