Iraq Violence Sends Tremors Across Global Markets

Brent crude and West Texas Intermediate (WTI) prices rose to nine-month highs early today as sectarian violence erupted in northern Iraq, while global equity markets turned red following reports that the US Military may be sent in to curb violence in the war-torn Middle Eastern country. Iraq is the second-largest crude oil producer among OPEC nations, having surpassed Iran in 2012.