Oil mixed in Asia amid Iraq supply fears

Oil prices were mixed in Asia Friday but retained support near a nine-month peak as dealers track the unfolding sectarian conflict in Iraq fearing it could cause a major supply disruption. Brent crude for August fell four cents to $115.02 in afternoon trade, after rallying to $115.06 in London, its highest since early September. US benchmark West Texas Intermediate for July delivery rose 15 cents to $106.58. ‘Oil saw support from the risk of conflict in Iraq  disrupting oil supplies, as the US said it would send military advisers to the country,’ Singapore's United Overseas Bank said in a note. US President Barack Obama on Thursday announced that he was ready to send 300 advisers to Iraq and if necessary to take ‘targeted’ and ‘precise’ military action to counter radical Sunni fighters.‘We will help Iraq is as they take the fight to terrorists who threaten the Iraqi people, the region and American interests as well,’ he said. Washington has already positioned an aircraft carrier in the Gulf and is also considering using drone strikes against the militants. A Congressional source has said US Secretary of State John Kerry will travel to ‘soon’, according to AFP.