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Inside the Market

Before the bell: Oil jumps to 8-month high on Iraq

The Before the Bell report is constantly updated to reflect the latest news developments and market moves in the premarket. Check back later for updates.

A surge in crude oil prices to an eight-month high is taking centre-stage this morning in global markets, as an offshoot of al-Qaeda is rapidly on the move and taking control over northern areas of Iraq, creating new fears about Middle East oil supplies.