World Business News

A round up of the latest news for those doing business internationally

Energy crunch

Zone(s): Iraq, Ukraine, Russia, Global ¦ Sector(s): Energy
[17 June 2014, CITY A.M.] By Michael Bird: Fears of a disruptive energy price spike grew yesterday as conflict escalated in Iraq and Ukraine’s gas supplies from Russia were abruptly cut off. Experts warned that growing geopolitical risk could send oil and gas prices sharply upwards, prompting a more severe market reaction and even a slowdown in the global economic recovery.

The US showed signs of being drawn further into Iraq last night, with President Obama sending in 275 troops to “provide support and security for US personnel and the US Embassy in Baghdad” as jihadist fighters from the Islamic State of Iraq and Syria (Isis) approach the capital.

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