In a research note issued June 16, Raymond James Equity Research Analysts Pavel Molchanov and Marshall Adkins said: “Given Iraq's status as OPEC's second-largest oil producer and fastest-growing oil producer outside the U.S., anything that runs the risk of disrupting the flow of Iraqi barrels is a big deal for the oil market. Last week's sharp escalation of the crisis involving the ultra-violent group ISIS [the Islamic State in Iraq and Syria] certainly falls into this category.”

The rapid advancement of the ISIS militant group in a sustained,...


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