Brent crude, the global benchmark, neared
Prices rose with a surge in violent conflict in
The ISIS insurgency has focused on the north of the country, but oil traders are worried that the terror group will turn its attention to the oil-rich south.
Concerns have also been raised by a 90pc drop in production in
'This is happening at a critical time for Opec as it is already struggling to meet its production target of 30m barrels a day,' said analysts at
But Saxo said: 'The current fighting will make it close to impossible to develop untapped resources in the northern and eastern parts of the country.'
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