- Brent crude prices extended their rally beyond $62 per barrel today as the IEA warned of supply risks in the Middle East, while other analysts noted the recent price increases may be overblown.
- The rise of ISIS presents a major challenge for the investment necessary to prevent an oil shortage in the next decade, announced the IEA's top economist, Fatih Birol.
- With Brent prices outperforming U.S. contracts the spread between the two benchmarks has risen to almost $9 per barrel, the highest level since August last year.
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