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Uncertainty over Iraq pushes oil price to three-month high

Posted on 13 June 2014

Traders bet on advances by Isis militants disrupting supplies from one of world’s largest exporters. Escalating violence in Iraq sent the price of oil to a three-month high as traders bet that advances made by insurgents could disrupt supplies from one of the world’s largest oil exporters.
Brent crude futures rose 2% to $112.12 a barrel, the highest price since early March. The initially calm response to Sunni militants’ overrunning of Mosul, Iraq’s second largest city, on Tuesday turned to alarm as Isis, the al-Qaida splinter group, announced its intention to take Baghdad………………………………………..Full Article: Source


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