Brent traded near the highest level since September and West Texas Intermediate gained as militants in Iraq seized more territory and President Obama warned that the crisis may spill over into other countries. Brent futures climbed as much as 0.7 percent in London . Fighters from the Islamic State in Iraq and the Levant took control of Iraq’s border crossings with Jordan and Syria , Hameed Ahmed Hashim, a member of the Anbar provincial council, said by phone yesterday. A Chinese manufacturing gauge rose to a seven-month high in June, indicating that the economy of the world’s second-biggest oil user is picking up. “We see further price gains, regardless of the fact that oil supply remains unaffected” in Iraq, Carsten Fritsch , an analyst at Commerzbank AG in Frankfurt , said by e-mail. “It’s fear that drives prices up, not real supply disruptions. The latter remain very unlikely.” Brent […]