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Nairaland Forum / Nairaland / General / Business / Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum (9446 Views)
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Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by Truth234(m): 5:10am On Sep 26, 2017 |
Brent crude oil on Monday rose to a 26-month high after Turkey threatened to block Kurdish crude oil shipments passing through its territory to punish the Iraqi region for holding an independence referendum. Brent crude oil advanced $1.64 to 58.50 a barrel at 1:14 pm New York time. While the West Texas Intermediate gained $1.14 to $51.80 a barrel on the New York Mercantile Exchange. Iraqi Kurds cast their votes in a controversial referendum on Monday as tension between the Iraqi government and the largest ethnic minority in Iraq deepened. The regional government of Kurdish people known as Kurdistan Region Government, KRG, said the referendum will give it a mandate to achieve independence from Iraq. Ballot boxes were seen in the oil-rich city of Kirkuk, a city claimed by both the Iraqi government and Kurdistan Region Government. “It’s pretty clear the Kurds are going to vote for independence and we will have yet another geopolitical hot spot in the Middle East that threatens a significant amount of oil supply,” John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund, said by telephone. At the same time, “the cooperation and the strong effort by OPEC is registering with the market.” Turkey and Iran with sizable Kurdish minorities fear a referendum in Iraq might lead to similar occurrence in their countries. Therefore, the two nations threatened to work with the Iraqi central government to isolate the KRG and shut down crude shipments through their territories. However, the Qubad Talabani, deputy prime minister of the KRG said “It is the beginning of a struggle today in which we hope after a talking process with Iraq, with our neighbors, friends and rivals, to be able to reach our nation’s objectives, be able to fulfill the dream that grew with us since childhood,” he told reporters in comments reported by Kurdish media outlet Rudaw. “Today marks the first phase in a long-term process.” Speaking further, he said the referendum should not be seen as a threat to neighbouring nations. “We just ask our nation a question: do you want to live in an independent state and today our nation will be answering that question. It is not that we are declaring independence tomorrow,” he said. Turkish President Recep Tayyip Erdogan on Monday called the referendum illegal. “Northern Iraq is not the living space of only one person or of one tribe, and this should be known,” Erdogan said during remarks in Istanbul. “We consider the referendum, regardless of outcome, null and void. We say it is illegal.” Israeli Prime Minister Benjamin Netanyahu described the referendum as the legitimate right of the Kurdish people to have their own state. Israel is the only country in the region supporting the referendum. Futures rose 2.8 percent in London, while the U.S. benchmark jumped to a 4-month high. http://investorsking.com/brent-crude-oil-jumps-26-month-high-kurdish-holds-referendum/ 2 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by Connoisseur(m): 6:59am On Sep 26, 2017 |
“Today marks the first phase in a long-term process.” Referendum is the first phase in a very long term process. It was not declared by Iraq but by the regional Kurds Government. Even though Turkey rolled it as null and void no matter the outcome, the deputy Prime Minister of the KRG didn't resort to indulge and name calling rather calling for dialogue to discuss on issues. This referendum was only achieved because the Kurds were in charge of their regional government. 21 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by Truth234(m): 7:13am On Sep 26, 2017 |
Connoisseur: Because the Iraqi government allows Kurds real federalism, a semi-autonomy to manage its affairs. This also explains why the Iraqi Kurdistan were and still the strongest in combating ISIS so far. Uphold human right of any group of people and see it reciprocate in folds. 29 Likes 1 Share |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by frankwells(f): 7:34am On Sep 26, 2017 |
good |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by Nobody: 7:36am On Sep 26, 2017 |
Nice |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by lagoslandlord(m): 7:37am On Sep 26, 2017 |
Interesting. .. |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by ONYEUTALI: 7:37am On Sep 26, 2017 |
Northern Nigerians be like; "the Kurds are calling for a Civil War" 64 Likes 6 Shares |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by KangaIye: 7:37am On Sep 26, 2017 |
Everyone is trying to break away, we still believe in one Nigeria 4 Likes 3 Shares |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by stevnwigw: 7:38am On Sep 26, 2017 |
Biafra referendum coming soon 49 Likes 3 Shares |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by miltonchux(m): 7:40am On Sep 26, 2017 |
Gud for kurds, it's a beginning of more referendum around the world for tribes who feel marginalised. 11 Likes 1 Share |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by CosmeticChemist(m): 7:41am On Sep 26, 2017 |
good news for Nigeria. It will increase the foreign reserve and strengthen the Naira. 1 Like |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by SillyMods: 7:41am On Sep 26, 2017 |
Despite the opposition to it, I still like the way the Kurds went about the referendum for secession without hate speech and threat to kill and violence. Hope our Igbo brothers can learn something from this. 13 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by Xbee007(m): 7:41am On Sep 26, 2017 |
Truth234:Israel lecturing people on "legitimate right", how ironic. All this world leader self are just bunch of hypocrite. 6 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by Equiano: 7:42am On Sep 26, 2017 |
Referendum, dialogue and not name calling...,FG and IPOB should learn from the Kurds 5 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by Butterworth: 7:42am On Sep 26, 2017 |
Thats how sane society functions, try to replicate such in Nigeria, the FG will send armoured cars, tanks and sodiers to shoot civilians. Kurdish people were able to achieve this because they have autonomous regional government in Iraq. Thats why sane minds should support a restructured Nigrria along regional lines where each region will develop at their own pace and also decide whether to remain in Nigeria or opt out completely through a Referendum as done by the Kurdish people of Iraq. 37 Likes 4 Shares |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by rozayx5(m): 7:43am On Sep 26, 2017 |
KangaIye: You and who? The average Nigerian has not felt many positive govt Impact since birth Nigeria is just a business center for few elite 16 Likes 2 Shares |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by Butterworth: 7:44am On Sep 26, 2017 |
SillyMods: You must be living in space not to have heard or watch the war going on in Iraq since 3 years. 26 Likes 2 Shares |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by TheArchangel(f): 7:45am On Sep 26, 2017 |
SillyMods:you are a poor student of history 27 Likes 1 Share |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by deedeedee1: 7:46am On Sep 26, 2017 |
KangaIye:Who are the we? What is the meaning of One Nigeria? If we are One, we wont need to say it 25 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by nextexcel: 7:46am On Sep 26, 2017 |
When will Africa be liberal? Imagine all this wave of referendum in Asia, Europe etc and no soul has been reportedly lost rather legal means where taken, if it's African they will role out tanks given to them by this continents and kill it's people in a "show of force" but I have this massage for Africa, We are almost there were no few occultic people that call themselves Government will dictate for us the way we live and treat each other. 11 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by deedeedee1: 7:48am On Sep 26, 2017 |
Butterworth:Thank you jare. Wa sere! 9 Likes 1 Share |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by juman(m): 7:48am On Sep 26, 2017 |
The senseless apc government hope is only on Niger delta oil. Their government is a joke. 9 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by teamsynergy: 7:50am On Sep 26, 2017 |
the referendum pained turkey ehn 12 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by ELKHALIFAISIS(m): 7:51am On Sep 26, 2017 |
like Kurdistan like Catalonia like Biafran... newest republic loading sekem sekem sekem 13 Likes
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Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by NtoAkwaIbom(m): 7:52am On Sep 26, 2017 |
ipob should read this.. they claimed that Turkey supported it in its attempt to cecede but look at turkey dtoping anida country from brrakin away ? no country of the world supports seperatist |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by teamsynergy: 7:52am On Sep 26, 2017 |
Butterworth: the Iraqi govt actually tried to crackdown on the Kurds but the situation is very delicate ... same thing happened in spain 1 Like |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by teamsynergy: 7:52am On Sep 26, 2017 |
Butterworth: the Iraqi govt actually tried to crackdown on the Kurds but the situation is very delicate ... same thing is happening in spain... |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by deedeedee1: 7:53am On Sep 26, 2017 |
CosmeticChemist:It is only temporary. The price will soon fall. 2 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by UfuomaUN(m): 7:53am On Sep 26, 2017 |
SillyMods:Go and buy history text book 5 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by felixomor: 7:54am On Sep 26, 2017 |
Referendum doesn't mean war. 2 Likes |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by nNEOo(m): 7:55am On Sep 26, 2017 |
euen kurds...smh |
Re: Brent Crude Oil Jumps To 26-month High As Kurds Holds Referendum by Franco2017(m): 7:55am On Sep 26, 2017 |
Why are countries afraid of losing its part 3 Likes |
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