Brent crude climbed, extending its premium over West Texas Intermediate to the highest this month, as the crisis in Iraq showed no signs of abating. The August Brent contract gained 0.4 percent. Iraq Prime Minister Nouri al-Maliki is fighting to reverse the advance of militants, who captured Iraq’s largest northern city and other towns last week. The fighting hasn’t spread to the south, which the U.S. Energy Information Administration says is home to three-quarters of Iraq’s crude output. “The oil market is reacting positively to the unrest,” said Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis , which oversees $1.4 billion. “If Baghdad really starts to run into trouble, it’s going to be very difficult to maintain production.” Brent for August settlement gained 48 cents to end at $112.94 a barrel on the London-based ICE Futures Europe exchange. The July contract closed at $113.41 on […]