Smoke 'Billowing' From Major Iraqi Oil Refinery After Insurgents Launch Attack

Right now, there's optimism that despite the lightning-fast advances made by insurgents in Iraq that the key oil assets will be safe.

But this headline will get people anxious about this issue.

Insurgents have attacked a major Iraqi oil refinery.

From Sky News:

Smoke has been seen billowing from Iraq's biggest oil refinery after insurgents launched a mortar and machine-gun assault.

Production had already ceased at the refinery in Baiji, north of Baghdad, after clashes nearby.

Oil prices have been muted on the news, perhaps since production had already been shutdown there.

Read the full report here >