Here's The Iraq Scenario Where Oil Spikes By Another $50

Brent crude prices have climbed more than $5 since Iraq declared a state of emergency after Sunni insurgents gained control of the city of Mosul last week. In a note yesterday, Bank of America Merrill Lynch analysts explained how prices could yet spike by another $40-$50 per barrel to never-before-seen levels.  Much of Iraq's oil production, as well as exports, is concentrated in the south, while most of the fighting has occurred in the north. Here are two tables from Columbia University's Cent...