Skip to content
Subscriber Only

Oil Seen Rising Faster Than Market Shows on Iraq Violence

Oil traders are too complacent about the longer-term threat of escalating violence in Iraq, banks from Citigroup Inc. to Bank of America Corp. said.

Brent oil for August delivery rose 4.4 percent this month on the ICE Futures Europe exchange in London, a 10th more than the gain in crude for the end of 2018. Violence in Iraq is the biggest risk to new supply this decade from any nation in the Organization of Petroleum Exporting Countries, the International Energy Agency said June 13.