LONDON/KUWAIT ( Reuters ) - The drop Movement.down.loss in oil prices to their lowest level Position.low in four-month has caught many observers off guard , coming against a backdrop of the worst insurrection Civil.unrest in Iraq 1979 , heightened clashes Geopolitical.tension between Middle East and Libya , and sanctions Embargo against the OPEC member nation .

`` I would entirely ascribe this move to the insurrection Civil.unrest in the north of Iraq ... The fear is that it will cause a threat to Iraqi oil exports , '' Christopher Bellew , a trader at Jefferies Bache , said .