Former House Majority Leader Dick Gephardt tells TheStreet's Joe Deaux that President Barack Obama must 'be careful' with how he decides to address rising escalation of violence in Iraq. Islamist militant group ISIS has claimed control of a large swatch of northern Iraq, which holds about one-third of the country's oil production. Gephardt says the administration is in a tough spot, but that it should continue to try to arm the Iraqi government and send in trainers. West Texas Intermediate crude prices have risen 4% since the beginning of the week, primarily driven by developments in Iraq.

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