Geopolitical issues and concerns added a considerable risk premium to the price of oil on Monday as fighting erupted in the north of OPEC member Iraq. Much of the oil production and distribution centers in Iraq are near the southern port city of Basra, though traders have focused on operations in the north since the Kurdish region held a contentious referendum for independence in late September. Hundreds of thousands of barrels of oil production could be caught in the crossfire as Iraqi forces fight for control over the disputed northern city of Kirkuk.There are competing narratives over the flow of oil at the Kirkuk oil fields, though the federal government in recent weeks made it clear […]