Iraq's Kurdistan has agreed on new deals to borrow $3 billion from trading houses and Russian state oil firm Rosneft that will be guaranteed by future oil sales to strengthen its fiscal position as the semi-autonomous region fights Islamic State.
Crude futures bounced back from two-month lows on Tuesday, helped by a weaker dollar, but an oil stocks overhang and a drop in bullish bets by investors weighed on prices.
Crude oil prices fell on Friday as a stronger dollar pulled crude off the 2016 highs hit this week, although strong refinery demand and global supply disruptions lent support.
Oil prices jumped over 2% on Monday to their highest since November 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.
Oil rose towards $35 a barrel on Friday, a gain of some 25 % from the 12-year lows seen earlier in January, on prospects that a deal between major exporters to cut production could help reduce one
European companies and trading houses are not rushing to buy Iranian oil because of legal uncertainties over the lifting of sanctions that are likely to take weeks to clarify.
