Crude-oil futures continued to rally in Asian trading hours Monday after last week’s surge on escalating Iraqi violence. On the New York Mercantile Exchange, light, sweet crude futures for delivery in July traded at $107.45 a barrel at 0513 GMT, up $0.54 in the Globex electronic session. August Brent crude on London’s ICE Futures exchange rose $0.62 to $113.08 a barrel. Nymex crude for July delivery gained over 4% last week, its largest weekly gain since the week ended Dec. 6, while Brent crude gained 4.4% last week, snapping a two-week losing streak on Iraqi violence. Over the weekend, radical Sunni militia advancing through Iraq bragged about the execution of hundreds of Shiite Iraqi soldiers. Oil markets are concerned that oil fields in Kuwait, another key oil producer in the region, could also be at risk as it borders Iraq. Meanwhile, the Obama administration is expected to open talks […]