The advance of the ISIS-insurgents in Iraq’s northwest has to date produced hardly a ripple on oil markets,ABN AMRO observes, with oil prices edging up by just a few US dollars. Given that oil production in Iraq’s northeast has been blocked for several months already, or the country’s entire oil export is now coming from the southeastern city of Basra,where oil production and exports hit ten-year highs in May and June.
Source: abnamro.com