Escalation in Iraq violence causes oil price to jump almost $2 to above $106 a barrel

  • by: PABLO GORONDI , Associated Press
  • Updated: June 12, 2014 - 8:30 AM

The price of oil jumped to above $106 a barrel Thursday as an insurgency in Iraq raised the risk of disruptions to supplies at a time when other major crude-producing countries are already pumping near capacity.

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