LUXEMBOURG (AFX) - EU economic and monetary affairs commissioner Pedro Solbes said renewed upward pressure in oil prices during the second half of the year cannot be ruled out following Iraq's decision to suspend oil exports. Speaking at the end of a euro group meeting, Solbes said rising euro zone inflation "does not seem to fit well in the picture of a slowing economy and has defied previous forecasts of inflation falling below 2.0 pct by mid-year." Solbes added: "However, medium-term inflation prospects have improved overall compared to last year, at least as far as inflationary pressures emerging from the demand side are concerned."