Turksh Clampdown on Kurdish Rebels Threatens Crude

Crude prices have risen amidst fears that oil shipments out of Iraq could be compromised in the wake of a possible Turkish attack on rebel camps in Northern Iraq.

Turkey's Prime Minister Tayyip Erdogan has threatened to attack Kurdistan Workers Party bases in Northern Iraq unless the US and Iraq prevent strikes by the group within Turkish borders.

US crude jumped from $1.04 to $81.3, with the impending Northern Hemisphere winter and news of a fire at BP oil field in Alaska also affecting prices, says Reuters.

By staff writer