Brent Retreats in Absence of Supply Disruptions in Iraq
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Brent crude futures slipped from the highest level in almost nine months as the widening conflict in Iraq has so far spared the country’s main oil-producing region.
Prices fell the most in more than a month as Iraq’s army fought with an al-Qaeda breakaway group to recapture territory near the borders with Jordan and Syria and U.S. Secretary of State John Kerry called on Iraqi leaders to unite against the militants. The violence hasn’t spread to the south, home to more than three-quarters of Iraq’s output.