Iraqi developments push oil prices toward record

Iraqi developments push oil prices toward record

oilBAGHDAD / Wi-News
Brent crude highest price in nine months, surpassing $ 115 a barrel with the words of the United States that it may send military advisers to Iraq, raising fears of an escalation of the conflict.

Government forces have been battling insurgents seeking to control the largest refinery in Iraq, while U.S. President Barack Obama said the United States would send up to 300 military adviser to Iraq to support the security forces.

And still the Baiji refinery, located near Tikrit, 200 kilometers north of the Iraqi capital, besieged as defended by Iraqi forces in the face of armed organization of the Islamic State in Iraq, Syria and its allies stormed the refinery site, which threatens the supply of domestic energy.

If the amount of refinery capacity has been 300 thousand barrels per day, closed Baghdad will need to import more oil products to meet future domestic consumption, which would increase the scarcity of supply crude markets.

Brent rose 80 cents to 115.06 dollars per barrel are determined to settle at their highest level since the sixth of September. Earlier in the session the price was 115.71 dollars.

The contract rose U.S. crude for July delivery, which expires tomorrow, Friday, 46 cents for a settlement price is determined at 106.43 dollars.