New York — Oil prices were flat on Friday in see-saw trade, under pressure from weak US demand but drawing support from a sharp decline in Iraqi crude exports due to tensions in the Kurdistan region. US light crude was 10c higher at $51.39. Brent crude was up 24c at $57.47 a barrel by 3.44pm GMT. "We’ve continued to see signs that the market needs a steady drumbeat of positive information," said Gene McGillian, director of market research for Tradition Energy. "This week’s department of energy report where petrol demand dropped to its lowest since March gave a little pause to that." Oil exports from Iraq’s Kurdistan via the Turkish port of Ceyhan were flowing at average rates of 216,000 barrels per day (bpd), down from the usual flows of around 600,000 bpd, a shipping source said. Iraqi troops regained control of two major oil fields northwest of Kirkuk from Kurdish Peshmerga forces this week, and the oil ministry in Baghdad expects to bring the fields back on stream on Sunday. Russ...
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