Back when oil traded at $115 a barrel in June, traders were talking about the fighting in places like Iraq , Ukraine and Libya as part of the reason it was so high. Fast forward seven months and while crude has faded to $50 a barrel amid a supply glut, those geopolitical risks — along with some new ones that emerged — remain largely intact. Islamic State militants haven’t given up the goal of a Middle East caliphate, Libya is mired in chaos, pro-Russian separatists keep skirmishing with Ukrainian forces and North Korea is fighting Hollywood. All of this has some analysts wondering if investors are setting themselves up for a nasty surprise by driving oil down so far. To Michael McCarthy , chief strategist at CMC Markets, current prices indicate investors see “almost zero risk” of a geopolitical event disrupting output. In other words, brace for a big […]