Oil prices have surged upwards on the world markets, driven by unrest and political tensions in Iraq.
Oil moved toward the $60 a barrel mark at the end of September. Turkish threats to cut off a key pipeline used to export oil from Iraq’s Kurdistan region ahead of the provinces vote on independence was seen as an upward pushing factor.
Potential geostrategic crises in Iran, with the nuclear deal and President Trump’s threat to decertify the deal, and looming crisis in Venezuela, also have the ability to cause an oil supply squeeze.
