Brent was trading below $103 on Friday, heading for a second weekly loss as easing geopolitical risks and higher global oil supply pressured prices.» Read More
U.S. oil rallied to a nine-month high on the risk of supply disruptions from Iraq, and a contract expiry.
SEOUL, June 20- U.S. crude futures climbed towards $107 a barrel in early Asian trade on Friday, supported by the risk of conflict in Iraq disrupting oil supplies, as the United States said it would send military advisers to the country.
If the Baghdad government can keep militants away from its oil fields, Iraq's oil production could increase even as crude prices remain high.
To help fund transportation programs, Sen. Chris Murphy (D-Conn.) makes the case for raising the gas tax.
CNBC's Morgan Brennan reports on an infrastructure plan that may cause more pain at the pump.
*U.S. to send military advisers to Iraq, offers air support. NEW YORK, June 19- Brent crude hit a nine-month high of more than $115 a barrel on Thursday as the United States said it could send military advisers to Iraq, raising concerns about the escalating conflict.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was up on the day, over fears of violence in Iraq. Gold was up $42 on the day, surpassing $1,300 for the first time in weeks.
CNBC's Michelle Caruso-Cabrera reports the U.S. intelligence is developing more information about potential ISIL targets and going forward will be prepared to take military action if necessary.
Senators Bob Corker and Chris Murphy are proposing to raise the gas tax by $0.12 per gallon. CNBC contributors James Pethokoukis, and Jared Bernstein, share their opinions.
BRENT CRUDE OIL FUTURES RISE OVER $1 TO $115.27 A BARREL AS OBAMA SPEAKS ON IRAQ.
Gas prices are on the rise due largely to the crisis in Iraq. CNBC's Morgan Brennan reports today's national average is $3.67, the highest price since 2008.
The FMHR traders discuss rising oil prices amid an escalating crisis in Iraq.
CNBC's Michelle Caruso-Cabrera provides insight to reports saying Sunni extremists in Iraq have occupied once Saddam Hussein's chemical-weapons facility.
Gazprom's termination of a contract with Ukraine's state-owned gas company will not affect supplies to Europe.
*Iraq asks United States for air support vs insurgents. NEW YORK, June 19- Brent crude hit a nine-month high near $115 a barrel Thursday, as concerns that ongoing violence in Iraq could limit oil supply from OPEC's second-biggest producer.
CNBC's Michelle Caruso-Cabrera reports it's still unclear who is in control of the Baiji oil refinery, and the Iraqi government is expressing frustration over the reluctance of the U.S. to launch air strikes against Sunni militants.
CNBC's Jackie DeAngelis reports natural gas inventories get an injection of 113 billion cubic feet, beating expectations.
CNBC's Michelle Caruso-Cabrera reports that it is becoming increasingly clear that Iraq Prime Minister Nouri al-Maliki will struggle to retain his job. Caruso-Cabrera also has the latest on the likelihood of U.S air strikes in the region.
Iraqi Foreign Minister Hoshyar Zebari said American airstrikes were needed "to break the morale" of the Islamic State of Iraq and al-Sham.
NBC's Richard Engel reports on news that the U.S. wants Iraqi policymakers to form a new government without Prime Minister Nouri al-Maliki.