Oil prices tick up amid geopolitical tension
XINHUA
Xinhua, NEW YORK: Oil prices rose on Friday, as tensions in the Middle East continued to provide support in the market.
The Iraqi military said on Friday the Kurdish Peshmerga forces used German rocket in fighting against Iraqi federal forces at a disputed area in the oil-rich province of Kirkuk.
Meanwhile, local media reported Iranian Supreme Leader Ayatollah Ali Khamenei said earlier this week that Iran will cut 2015 international nuclear deal into shreds if the United States chooses to tear it up.
Analysts said the unrest in the Middle East and rising tension between the United States and Iran boosted the oil prices, as traders feared geopolitical tensions could cut off oil exports from the region.
On the data front, the number of rigs operating in U.S. oil fields fell by seven to a total of 736 rigs this week, oilfield service firm Baker Hughes said in its weekly report on Friday.
The West Texas Intermediate for November delivery was up 18 U.S. cents to settle at 51.47 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery rose 52 cents to close at 57.75 dollars a barrel on the London ICE Futures Exchange
