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Iraq Ignites Gasoline ETF

Posted on 25 June 2014

The energy space has been fired up by solid trading thanks to climbing crude oil and gasoline prices following the Iraqi insurgency. Average price of gasoline reached the highest level since 2008 to $3.86 per gallon.
This is especially true as the Sunni Islamist militants strengthened their grip on north Iraqi and is now looking to capture the capital city of Baghdad in the south. Since Iraq is the second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) group after Saudi Arabia generating about 3.3 million barrels of oil per day, investors are concerned that violence spreading in South will disrupt global oil supplies, resulting in a spike in crude oil prices………………………………………..Full Article: Source


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VRS - who has written 37583 posts on Opalesque Commodities Briefing.


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