From Investing.com: 2025-02-17 01:55:00

Oil prices are facing pressure due to potential restart in oil exports from Iraq’s Kurdistan region. Despite a small gain last week, time spreads are weakening, indicating easing tightness in the physical market. Speculators are more bearish, with a net long cut in NYMEX WTI and little change in ICE Brent positioning. European gas prices fell by over 9%, remaining elevated above EUR50/MWh. Backwardation between summer 2025 and winter 2025/26 prices has flattened, affecting subsidies. Gas storage levels in Europe are below average, with colder weather forecasts leading to stronger storage draws. Talks between US and Russia for peace deal will impact sentiment.



Read more at Investing.com: Crude Oil Prices Drop Amid Talks of Potential Restart of Kurdish Oil Exports