Oil prices sink on prospect of more oil export from Iraq

NEW YORK, April 17 (Xinhua) -- U.S. oil prices suffered substantial losses on Monday on possible resumption of oil export from Iraq's semi-autonomous Kurdistan region via Türkiye's Ceyhan oil terminal.

The West Texas Intermediate (WTI) for May delivery dropped 1.69 U.S. dollars, or 2.05 percent, to settle at 80.83 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery decreased 1.55 dollars, or 1.8 percent, to settle at 84.76 dollars a barrel on the London ICE Futures Exchange.