Global: Oil Topping $116 Seen Possible as Iraq Conflict Widens
The risk of a civil war in Iraq threatens output in OPEC’s second- biggest crude producer. As a result, the volatility of oil-prices, which is an indicator of market uncertainty rose as high as 13% on 3 June. In addition, the international benchmark rose above USD 114 a barrel for the first time in nine months on 13 June. (Source: Bloomberg)

Ukraine: Ukraine Faces Halt of Russian Gas Supplies
The Russian gas company, Gazprom has said Ukraine will now have to pay up front for any future Russian gas supplies, after Kiev failed to pay the outstanding debts for the gas deliveries made between November 2013 and May 2014. The two countries have not reached an agreement on the price of gas since the political crisis between the two started last year. (Source: BBC News)

Indonesia: Indonesia Candidates’ Pledges Confront Budget Constraints
The two main presidential candidates in Indonesia engaged in a televised debate last night. Voters will go to the polls on July 9 to choose between Jakarta governor Joko Widodo and former army general Prabowo Subianto. Although Widodo is considered favorite, whoever wins will face tight fiscal constraints. (Source: Bloomberg)

Thailand: Over 100,000 Cambodian Migrant Workers Flee Thailand
Over 100,000 illegal workers from Cambodia are returning home amid fear that the military junta will arrest them. Although tackling illegal migration has been one of the junta’s priorities, unease over the issue and the sudden change in government may have fueled the migrant workers’ concerns. (Source: CNN News)

Colombia: Colombian President Santos Reelected in Run-Off Elections
Incumbent President Juan Manuel Santos has been reelected in the 15 June presidential run-off elections. He gained nearly 51% of votes while his challenger Oscar Ivan Zuluaga came in close with 45% of votes. Santos’ campaign had focused on the peace talks with the FARC rebels that were initiated during his first term of office. (Source: Univision, Language: Spanish)

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