Brent Falls as Iraqi Kurds Retake Most of Mosul Dam
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Brent crude fell as Kurdish and Iraqi forces took control of the country’s largest dam from Islamist militants. West Texas Intermediate fell in New York.
Futures dropped as much as 1.4 percent in London, matching the loss last week. Kurdish forces and government units have taken over the Mosul Dam entirely, an Iraqi military spokesman said on state-sponsored Iraqiya television, while a spokesman for Sunni tribes supporting the militants said that fighting continued on its eastern side. Production in Libya increased to 540,000 barrels a day as the port of Es Sider prepared to ship crude, according to National Oil Corp.