West Texas Intermediate climbed for a fourth day and Brent crude gained on concern that escalating violence in Iraq threatens to disrupt supplies from OPEC’s second-largest producer. WTI futures advanced as much as 0.6 percent in New York after capping a 4.1 percent weekly gain on June 13. Iraq’s military struck the positions of insurgents who have captured territory north of Baghdad , trying to turn back battlefield advances that threaten to split the country. Brent may quickly rally to a range of $120 to $125 a barrel if production is affected, Societe Generale SA said. The country produced 3.3 million barrels a day last month, data from Bloomberg show. “The real concern is a disruption to production and exports in southern Iraq,” Mike Wittner , head of oil market research at Societe Generale SA in New York, said in a report today. “The threat of that happening is […]