Oil prices rise on Middle East fighting; OPEC output in focus | Reuters

Oil prices rise on Middle East fighting; OPEC output in focus | Reuters:



"Oil prices rose on Monday following fighting in Iraq and Yemen, but Iranian comments that OPEC was unlikely to cut output as well as signs of strengthening U.S. production capped gains.



Front-month Brent futures LCOc1 were up 1 percent, or 65 cents, at $67.46 a barrel by 11.54 a.m. ET. U.S. crude CLc1 rose 79 cents to $60.48.



Prices were supported by concerns that conflict in Iraq and Yemen could disrupt supplies after Islamic State militants said they had taken control of the Iraqi city of Ramadi in a big blow to the government."



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