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Brent-WTI Crude Futures Spread Widens on Violence in Iraq

Brent crude climbed, extending its premium over West Texas Intermediate to the highest this month, as the crisis in Iraq showed no signs of abating.

The August Brent contract gained 0.4 percent. Iraq Prime Minister Nouri al-Maliki is fighting to reverse the advance of militants, who captured Iraq’s largest northern city and other towns last week. The fighting hasn’t spread to the south, which the U.S. Energy Information Administration says is home to three-quarters of Iraq’s crude output.