Oil prices resumed their move downwards on Thursday, as Iraq planned a further jump in exports for February, with both Brent and U.S. crude oil dropping around $1 toward near six-year lows, and almost wiping out gains made the previous day. “A war for output market share means oil prices are skewed to the downside. Funds are unwinding a large positive investment premium, but further selling is possible,” ANZ said on Thursday. Brent crude oil was down $1.48 at $47.21 a barrel at 1007 GMT, at a discount to U.S. crude, which was trading at $47.60 a barrel, down 88 cents. Iraq plans to boost monthly crude oil exports from its southern ports to a record high level in February, trade sources said on Thursday. Iraq’s State Oil Marketing Organization has allocated 3.3 million barrels per day (bpd) of Basra crude to be shipped out in […]