Engineers at the Naher al-Umran gas refinery, some 40 kms north of the southern city of Basra July 17, 2009. (AFP PHOTO/ESSAM AL-SUDANI)
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Oil prices rose Monday on continued violence in key crude producer Iraq, holding not far from last week's nine-month peaks, analysts said.Last Thursday, Brent oil soared to $115.71 a barrel -- the highest point since September 9, 2013 .The violence in Iraq has a direct bearing on global crude prices because the country is the second-biggest oil exporter in the 12-nation Organization of Petroleum Exporting Countries (OPEC) after Saudi Arabia.Iraq has more than 11 percent of the world's proved resources and produces 3.4 million barrels a day.
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