Oil futures posted their largest weekly gain since December as a Sunni insurgency in Iraq jolted the market, fueling fears of reduced oil output from one of the world’s largest crude producers. Light, sweet crude for July delivery settled up 38 cents, or 0.4%, at $106.91 a barrel on the New York Mercantile Exchange, the highest settlement price since Sept. 18, 2013. Prices climbed 4.1% this week. Brent crude for July delivery rose 39 cents, or 0.4%, to settle at $113.41 a barrel on the ICE futures exchange, the highest settlement since Sept. 9. Prices rose 4.4% for the week. The July contract expired at settlement Friday, and the more-actively traded August contract settled up 4 cents at $112.46 a barrel. Insurgents seized Iraq’s second-largest city this week and have threatened to march on Baghdad. The country’s Shiite leaders called on their followers Friday to defend the government. President […]