Iraq crisis pushes oil to 2014 highs

摘要

Oil prices rose to their highest this year on concerns that escalating violence in Iraq will result in civil war and could curtail crude supplies. Atlantic basin benchmark North Sea Dated gained $3.72/bl to$112.10/bl in the week to 12 June,while US marker WTI rose by$4.05/bl to$106.53/bl.Sunni insurgent forces advanced towards Baghdad after seizing Iraq’s second city of Mosul and the town of Baiji,home to a 300,000 b/d refinery.At the same time,security forces from the autonomous Kurdish region took control of the northern city of Kirkuk,raising the possibility of protracted civil con-flict in the country.