West TX Oil Near $108 on Iraq Violence

U.S. crude futures were trading close to nine-month highs above $107 a barrel on Monday amid mounting concerns over Iraq as Sunni insurgents moved towards Baghdad, seizing more towns on Sunday.

The United States is scheduled to discuss possible supply disruptions due to the Iraq crisis with Gulf states later this week.

U.S. crude for August delivery rose 40 cents to $107.23 at 0100 GMT, after closing at $106.83 in the previous session when July’s contract expired. July expired at $107.26.


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