Oil markets will see little lasting reaction to the uncertainty around Iraq ’s next government amid elections this week that are expected to yield no clear majority, according to analysts at IHS Inc. and JBC Energy GmbH. Prime Minister Nouri al-Maliki is banking on revenue from the highest crude production in 35 years to win him a third term in office when voting takes place tomorrow, even as Iraq struggles to improve security and upgrade roads, ports and housing for its 33 million people. At least 50 were killed in bombings yesterday, some targeting polling stations. “Unfortunately, violence in Iraq is not a shock to the market,” Jim Burkhard, head of Global Oil Markets at IHS Energy, said yesterday in Dubai. “Unless there’s a debilitating attack on oil infrastructure, it wouldn’t have a lasting impact on oil prices.” Maliki first took power in 2006 and after the next vote […]