19 August 2014
Crude prices fall to 13-month lows despite Iraq turmoil
The International Energy Agency said oil prices were "eerily calm"
Crude prices fell to their lowest levels in almost 14 months in mid-August, despite ongoing instability in Iraq. Brent fell to $101.60 per barrel (/b) on 18 August - its lowest level since June 2013 - as Iraqi and Kurdish troops regained control of Iraq's largest dam from Islamic State (IS) militants. The International Energy Agency (IEA) said oil prices had been "almost eerily calm in the face of mounting geopolitical risks spanning an unusually large swathe of the oil-producing world". After a spike in early June, crude prices fell throughout August as weak OECD refinery runs offset concerns about escalating conflicts in Iraq, Libya and Ukraine. WTI was also under pressure as US crude ou
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
