13 Jul Iraq conflict sparks oil price rise
Posted at 14:55h
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.