Brent crude oil reached near $105 a barrel on Thursday as the security situation deteriorated in northern Iraq and militants made gains against Kurdish Peshmerga forces, advancing closer to the autonomous region's oilfields.
Oil near $105 after renewed ISIS advance in Iraq
A member of the Kurdish Peshmerga forces takes up position with his weapon as he guards a section of an oil refinery, which is being brought on a truck to Kalak refinery in the outskirts of Erbil, in Iraq's Kurdistan region, July 14, 2014.
Al Arabiya News
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