Glencore ( GLEN.L ) will likely fall short of its target of raising $550 million to pre-finance the purchase of Kurdish oil, with investors exercising caution despite the offer of a 12 percent bond yield, industry sources told Reuters. Two sources familiar with the plans said that commodities giant Glencore will price the bond at 12 percent on Tuesday, having received investor commitments for between $200 million and $400 million. Glencore would have to cover the rest itself, though there is no obligation to hit the full $550 million. European traders contending with a protracted oil industry downturn have targeted Kurdish oil since the government of the autonomous Kurdish region in Erbil began selling independently from Baghdad. The oil has been relatively cheap because of potential supply disruptions and […]