| The Islamist advance this week across northern Iraq has yet to have a major effect on the country's oil exports, so why are world prices rising? Oil experts say the 4% price spike since June 6 -- which has taken a barrel of crude to $107 for the first time since September 2013 -- is being driven by fear that exports could be hit later this year, just as world demand peaks.
An al Qaeda splinter group occupied Iraq's second biggest city -- Mosul -- earlier this week and has pushed on towards the capital, Baghdad. The group is trying to establish an Islamic state straddling the Iraq-Syria border...............................................Full Article: Source
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