Friday, 13 June 2014

Oil prices hit high on escalating Iraq war

In India, there is a chance that petrol prices may cool slightly.


Oil prices hit monthly highs on fears that oil supplies from Iraq could get disrupted.
In India, there is a chance that petrol prices may cool slightly even as oil marketing firms appear reluctant seeking a pricing cushion considering the Iraq developments.
Internationally the Iraq situation is getting worrisome.
Kurdish forces took control of an oil hub of Kirkuk after the Shi'ite-led government's troops abandoned their posts. US President Obama is not ruling out action there.
European benchmark Brent crude for July delivery rallied $3.07 to $113.02 a barrel on London's Intercontinental Exchange.

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