Early in the morning, a crisis broke out in Iraq and the global crude oil market was shooking !
On the 16th of October, Reuters reported that quoting from Iraqi and Kurdish officials,it said Iraqi troops began to advance toward Kirkuk, the oil-producing big-ship controlled by the Kurds, and the Iraqi federal troops entered the territories which was occupied by the Kurds early in the morning. Asian stocks rose to new highs as the tightening of tensions between the Iraqi government and the Kurds threatened the supply of crude oil while U.S. oil futures jumped to a point which is high in the six-month .
AFP also published a report on the incident that the Iraqi army launched a military operation to regain the Kirkuk governorate, a large oil-producing province under the control of Kurdish self-government. It is learned that, under the influence of Asian stock markets on Monday (October 16) rising to a 10-year high, the Japanese stock market continued to create a 21-year high. In addition, in response, U.S. crude oil price rose 0.9% to US $ 51.92 per barrel while Brent crude oil was up 1.2% to US $ 57.88 per barrel. One stock market observers pointed out: "The markets are now paying attention to Iraq and the trading floor is watching Iraqi news." For a time, the "Kurdish crisis" in Iraq once again became the focus of the oil industry. It is unknown what the impact of the Iraq incident will have on the oil market.
Iraq's "Kurdistan crisis" has gone beyond Iraq's own territory and has had a ripple effect on the neighboring four countries, which is now destabilizing the development of some areas. It is not hard to see that if we want to solve the "Kurdish" crisis in a short time, it will be very difficult to achieve. Insiders pointed out: "Although the Kurdish crisis is difficult to end within a short period of time, the impact on the global oil market will not last long, because other oil-producing countries will make up for short-term oil vacancies from Iraq."