The Traderszone Network

Published in TZ Latest News 13 June, 2014 by The TZ Newswire Staff

Oil hits nine-month high near $115 on Iraq crisis

Brent crude oil hit a nine-month high near $115 a barrel on Friday as the United States threatened military action against Islamist militants who have taken towns and cities in Iraq, raising concerns over its oil exports. Sunni insurgents gained more ground in Iraq, moving into two towns in the eastern province of Diyala after security forces abandoned their posts.