NEW YORK, Dec. 18 (Xinhua) -- Crude prices retreated Tuesday after the Turkish troops withdrew from Iraq.
Crude prices jumped more than 2 dollars a barrel as the Turkish troops went into northern Iraq in an operation against Kurdish rebels Tuesday morning.
However, crude futures traded lower later in the day as the Turkish troops withdrew from Iraq.
Light, sweet crude for January delivery fell 14 cents to settle at 90.49 dollars a barrel on the New York Mercantile Exchange.
In London, February Brent crude futures fell 1.17 dollars to settle at 90.12 a barrel on the ICE Futures exchange.
Oil prices have retreated in recent weeks as OPEC output has increased and a number of forecasters have lowered their estimates of oil demand growth.
Crude prices jumped more than 2 dollars a barrel as the Turkish troops went into northern Iraq in an operation against Kurdish rebels Tuesday morning.
However, crude futures traded lower later in the day as the Turkish troops withdrew from Iraq.
Light, sweet crude for January delivery fell 14 cents to settle at 90.49 dollars a barrel on the New York Mercantile Exchange.
In London, February Brent crude futures fell 1.17 dollars to settle at 90.12 a barrel on the ICE Futures exchange.
Oil prices have retreated in recent weeks as OPEC output has increased and a number of forecasters have lowered their estimates of oil demand growth.
