Iraq conflict sparks oil price rise

Oil prices have risen to a nine-month high amid concerns that developments in Iraq may affect global supplies.

Brent crude futures rose 3% to $113.27 per barrel, while US crude gained more than 2% to $106.71, the highest reading for both since September.

Insurgents have taken over two Iraqi cities, prompting the US to say it was considering “all options” to help Iraq.Read More….

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