President Barack Obama has ruled out a combat mission, but military officials say the reality of a protracted campaign may require US troops.» Read More
*Foreign oil firms pull staff from Iraq. SINGAPORE, June 18- Brent crude held above $113 per barrel on Wednesday as heavy fighting in Iraq shut the country's biggest refinery and led to the withdrawal of staff by foreign oil firms, stoking worries about exports from the key oil producer.
SEOUL, June 18- U.S. crude oil futures rose in early Asian trade on Wednesday, as tension in Iraq cast doubt on the OPEC member's oil growth targets and U.S. crude stocks fell more than expected.
Christian Whiton, Principal at DC International Advisory, says the crisis in Iraq is developing into an "extension of the Syrian civil war" and a "proxy war between Iran and Saudi Arabia."
*Iran, world powers to meet in Vienna for nuclear talks. *Britain to reopen Iran embassy in diplomatic breakthrough. NEW YORK, June 17- Brent oil held steady above $113 per barrel and U.S. crude weakened slightly on Tuesday as fears over oil supply disruptions from Iraq offset the possibility of increased supply due to a thawing of relations between Iran and the West.
Discussing the prospects of Baghdad falling and if the U.S. will confront militant Sunni groups, with former U.S. Ambassador to Iraq Christopher Hill.
Amid escalating conflict, CNBC's Michelle Caruso-Cabrera reports President Obama will meet with leaders of Congress to review U.S. options in Iraq.
CNBC on Tuesday witnessed about 2,000 civilians who had fled to a United Nations camp hastily arranged at Kalak, Iraq.
Iran, world powers to meet in Vienna for nuclear talks. *UK to reopen Iran embassy in diplomatic breakthrough. NEW YORK, June 17- Brent oil held steady above $113 per barrel on Tuesday and U.S. crude weakened slightly as fears over oil supply disruptions from Iraq offset thawing relations between Iran and the West.
Insight to what's driving the price of oil right now, with Chris Faulkner, Breitling Energy president & CEO.
The majority of the fighting in Iraq is taking place in the Northern region, but many didn't fear it would reach Baghdad. CNBC's Michelle Caruso-Cabrera reports 7 people are dead in a car bombing in Baghdad.
*Questions mount if Iraq can increase oil output at all. MOSCOW/ NEW DELHI, June 17- Some oil companies are pulling foreign staff from Iraq, fearing Sunni militants from the north could strike at major oilfields concentrated in the Shi'ite south despite moves by the Baghdad government to tighten security.
Foreign staff at Iraq's largest oil refinery in Baiji have been evacuated, reports CNBC's Michelle Caruso-Cabrera. Iraqi officials say they are still in control of the refinery, but it is surrounded by Islamist militants.
LONDON, June 17- Iraqi Kurdistan has built a link connecting Kirkuk to its newly-built pipeline to Turkey, its minister of natural resources said, potentially cementing Kurdish control over the northern oil hub and reducing its reliance on Baghdad.
Iran, world powers to meet in Vienna for nuclear talks. *Iraq's main refinery shuts down. NEW YORK, June 17- Brent oil held steady above $113 per barrel on Tuesday as fears that violence in Iraq could hit exports offset thawing relations between Iran and the West that could boost that nation's output.
June 17- Iraq's oil exports, confined to its southern terminals, have not so far been affected by escalating violence in the north, where an export pipeline has been out of action since March.
CNBC's Michelle Caruso-Cabrera reports on conditions within a UN camp where about 2,000 civilians have fled fighting in nearby Mosul, Iraq.
*Iraq's main refinery shuts down. LONDON, June 17- Oil was steady at around $113 per barrel on Tuesday, as signs of a thaw in relations between Iran and the West offset fears that Iraqi exports could be hit by spreading violence in OPEC's second-biggest oil exporter.
With the White House reportedly considering air strikes in Iraq, former U.S. National Security Adviser Samuel Berger, discusses U.S. options in Iraq and what it could mean for Obama's presidential legacy.
The New York Times is reporting 44 Sunni prisoners have been killed in a police station north of Baghdad. CNBC's Michelle Caruso-Cabrera, provides an update on U.S. and Iranian efforts to quell the situation in Iraq.
My fear is not inflation in this country other than in gasoline and at the pump, says CNBC's Jim Cramer explaining why he is keeping an eye on oil as unrest continues in Iraq.