The daily newspapers are now full of stories predicting that Iraq, as we know it, will soon disintegrate into three or more warring states.
Articles: Iraqi conflict (3)
The possibility of a new global energy shock moved closer this week as ISIS forces made major territorial gains in Iraq, the speed of events taking world leaders by surprise.
A midweek update. London oil prices have continued to move higher this week as the Iraqi situation deteriorated further with Brent closing on Wednesday at $114.22.