| Global oil prices are unlikely to experience a major shock in the near future despite continuing violence in Iraq, says Standard Life. In a market briefing report for investors, the financial firm said that even if the political situation continues to diminish Iraqi oil production is unlikely to be damaged further.
"After a period of unusual calm in global oil markets, the benchmark ICE Brent oil spot price spiked to just under $116 per barrel (bbl) late last week, its highest level since September last year," said analysts in a statement...............................................Full Article: Source
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