Oil Markets Spook Investors, Just in Time for Friday the 13th
Oil markets were in focus this week due to surging oil futures. Kurdish forces took control of Kirkuk, a provincial capital city and oil production hub in northern Iraq. This move was in response to Sunni militants taking over Mosul (Iraq’s second-largest city) earlier in the week, sending Iraq head-first into a possible civil war. Iraq is the world’s eighth-largest producer of oil and ranks second in the Organization of the Petroleum Exporting Countries (OPEC).