| High oil prices are starting to burden emerging economies, sparking concerns that tensions in the Middle East may derail fragile recoveries.
The price of a barrel of Brent crude has risen by more than 5% since June 12, when militants attacked and then overran several cities in major oil producer Iraq, and speculative money is firmly backing yet-higher prices. For economies including India, Turkey and Indonesia, a higher oil price is particularly onerous because they have to import most of the oil used to fuel their economies...............................................Full Article: Source
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