Oil rises as fighting escalates in Iraq's oil-rich Kirkuk


By Libby GeorgeLONDON (Reuters) - Oil markets jumped on Monday as Iraqi forces entered the oil city of Kirkuk, taking territory from Kurdish fighters and raising concerns over exports from OPEC's second-largest producer. Iraq launched the operation in the multi-ethnic region on Sunday as the crisis between Baghdad and the Kurdish Regional Government (KRG) escalated. Tensions have been building since the KRG voted for independence in a Sept.

25 referendum.Brent crude futures were at $58.10 per barrel at 1053 GMT, up 93 cents from the previous.

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