The U.S. major carriers are not yet concerned about rising oil prices driven by the crisis in Iraq, and analysts believe the short-term effect on the industry could be minimal. So far, oil prices have not spiked due to the ongoing conflict between the Iraqi government and insurgents. Although insurgents are threatening key refineries, the government retains control over the southern half of the country, which the Organization of Petroleum Exporting Countries (OPEC) estimates produces 85% of ...
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