The price of oil rose on Wednesday ahead of an OPEC meeting in Europe that is expected to keep production levels steady for the year even as demand looks set to grow. Energy markets were also affected by al-Qaida-inspired militants overrunning much of the Iraqi city of Mosul on Tuesday. Mosul lies in an area that is a major gateway for Iraqi oil. Benchmark U.S. oil for July delivery was up 29 cents to $104.64 a barrel at 0820 GMT in electronic trading on the New York Mercantile Exchange. On Tuesday, the contract fell 6 cents to close at $104.35. Brent crude, a benchmark for international oils, was up 35 cents to $109.22 a barrel on the ICE exchange in London. Wednesday’s meeting in Vienna of the Organization of Petroleum Exporting Countries is largely expected to keep its output target of 30 million barrels a day unchanged. Also adding […]