Iraq Violence Drives Oil Futures To 9-Month High

Iraq Violence Drives Oil Futures To 9-Month High
(Undated) -- Growing violence in Iraq is pushing oil prices to a nine-month high. Friday trading on Brent futures in Singapore closed in on 114 dollars a barrel. Investors are worried that oil supplies could be disrupted, but OPEC's latest forecast indicates the oil cartel will increase production to meet demand in the second half of this year.