Oil Reaches 9 Month High on Violence in Iraq

Bloomberg reported that Brent Crude reached a Nine-month high in London today, rising to $115 a barrel on continued tensions in Iraq.

As quoted in the publication:

Militants of the Sunni Islamic State in Iraq and the Levant seized Mosul, the largest northern city, on June 10 and have captured other towns. As Baghdad’s armed forces fled, the Kurds advanced into Kirkuk, which they’ve long claimed should be part of their autonomous region. Exxon Mobil Corp. (XOM), BP Plc (BP/) and Turkey’s state oil company TPAO began removing employees from Iraq, OPEC’s second-largest oil producer, as the insurgents attempted to capture a major refinery.

Click here to read the full Bloomberg article.