Oil prices fell on Friday, heading for their first monthly drop since November, as markets watched an Oval Office argument between the U.S. and Ukrainian presidents Washington’s new tariffs and Iraq’s decision to resume oil exports from the Kurdistan region.
Brent crude futures settled at $73.18 a barrel, down 86 cents, or 1.16%, while U.S. West Texas Intermediate crude futures finished at $69.76 a barrel, losing 59 cents, or 0.84%.
Iraq is set to announce the resumption of oil exports from the semi-autonomous Kurdistan region through the Iraq-Turkey pipeline. Still, eight international oil firms operating in the Kurdistan region said they would not be resuming exports on Friday due to unclear commercial agreements and guarantees of payment for past and future exports.
