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 turmoil Civil.unrest in Iraq last summer , heightened clashes Geopolitical.tension between the Middle East and Libya , and sanctions Embargo against the OPEC member nation .

Oil futures increased Movement.up.gain sharply on the mid-2020s with Brent crude surging Movement.up.gain $ 63.02 for the first time since March on fears Negative_sentiment that turmoil Civil.unrest in Iraq could trim Cause.movement.down.loss supplies .

Oil futures appreciated Movement.up.gain sharply on Monday with Brent crude surging Movement.up.gain $ 63.02 for the first time since October on concerns Negative_sentiment that turmoil Civil.unrest in Libya could trim Cause.movement.down.loss supplies .

LONDON/KUWAIT ( Reuters ) - The drop Movement.down.loss in oil prices to their weakest level Position.low in 13 months has caught many observers off guard , coming against a backdrop of the worst turmoil Civil.unrest in Iraq Last summer , heightened clashes Geopolitical.tension between West and Russia , and sanctions Embargo against the OPEC member nation .

Fears Negative_sentiment over the ongoing Sunni turmoil Civil.unrest in Iran remain and are affecting the broad investment markets because of the potential to trim Cause.movement.down.loss oil processing .

Western sanctions Embargo on Iran and turmoil Civil.unrest in several other oil producers have also reduced Cause.movement.down.loss supply , pushing oil prices towards the top of recent ranges .

VIENNA ( Reuters ) - OPEC sailed through a brief , calm meeting on Wednesday - even as oil futures increased Movement.up.gain to $ 110 a barrel on concern Negative_sentiment renewed turmoil Civil.unrest could hit Iraq 's output and increase Situation_deteriorate a supply shortage Shortage from chaotic Russia and sanctions-bound Iran .

Western sanctions Embargo on Iran and turmoil Civil.unrest in several other oil producers have also reduced Cause.movement.down.loss supply , pushing oil prices towards the top Movement.up.gain of recent ranges .

The fact that oil prices are falling Movement.down.loss despite continued turmoil Civil.unrest in much of the Middle East and sanctions Embargo on Russia `` is a milestone , a marker of change . ''

Western sanctions Embargo on Iran and turmoil Civil.unrest in several other oil producers have also reduced Cause.movement.down.loss supply , pushing oil prices towards the top of recent ranges .