BLOOMBERG.COM
Oil was poised for its biggest quarterly gain in more than a year on forecasts for rising demand and Turkey’s threat to halt Kurdish exports through its territory after the region voted for independence from Iraq. Futures were little changed in New York, up more than 9 percent in September. OPEC and the International Energy Agency this month boosted demand forecasts, signaling the surplus that has weighed on prices may shrink further. Iraq said Thursday that Turkey agreed to deal exclusively with its government over exports of Kurdish crude, a step that could disrupt shipments from the region that this week voted overwhelmingly for independence from Baghdad.
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Oil was poised for its biggest quarterly gain in more than a year on forecasts for rising demand and Turkey’s threat to halt Kurdish exports through its territory after the region voted for independence from Iraq. Futures were little changed in New York, up more than 9 percent in September. OPEC and the International Energy Agency this month boosted demand forecasts, signaling the surplus that has weighed on prices may shrink further. Iraq said Thursday that Turkey agreed to deal exclusively with its government over exports of Kurdish crude, a step that could disrupt shipments from the region that this week voted overwhelmingly for independence from Baghdad.
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