Wednesday 18 June 2014

Militants attack Iraq's largest oil refinery

Iraq’s largest oil refinery is under attack from Sunni militants on Wednesday, according to unnamed security sources and refinery employees that spoke to the Reuters news agency.


On Tuesday, the Baiji refinery was shut down and foreign workers were evacuated as Iraq security forces prepared for a siege of the compound by insurgents. The sprawling facility is situated about 50 miles north of Tikrit.


Crude oil prices did not immediately rise on the news of the attack, taking place with mortars and machine guns. The July crude oil futures contract added 19 cents to the barrel to $106.55.


Clashes between Sunni Muslim militants from the al-Qaeda breakaway group known as the Islamic State of Iraq and the Levant — referred to as ISIL or ISIS — are also continuing Wednesday in areas to the north of Iraq’s capital Baghdad.


Separately, speaking live on television on Wednesday, Iranian President Hassan Rouhani said his country stood ready to defend Shi’ite Muslim holy sites in neighboring Iraq against “killers and terrorists,” according to Reuters. Washington has yet to decide how it will deepen its involvement in the conflict although it has already deployed a few hundred troops to protect the U.S. Embassy and other American interests.


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Militants attack Iraq's largest oil refinery

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