Brent Crude Above $113 Amid Iraq Unrest

U.S. crude futures rose by more than a dollar on Friday to the highest in nearly nine months amid upheaval in Iraq that threatens to disrupt supply from the second biggest OPEC producer.  U.S. oil prices have gained almost 5 percent for the week, on track for their biggest weekly increase this year.

U.S. crude for July delivery rose as much as $1.15 to $107.68 per barrel, its loftiest since Sept. 19, 2013. It was up 79 cents at $107.32 by 0037 GMT, and up 4.5 percent for the week, its largest such gain since early December.

Brent oil touched a session peak of $113.75 per barrel, its highest since Sept. 9 last year. It was last up 50 cents at $113.52, putting its weekly gain at 4.4 percent so far, the biggest since July 2013.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.