Wednesday, June 6, 2007

Oil nears 9-month high above $71 on Turkey Iraq raid

(Reuters) - Oil prices extended gains above $71 a barrel on Thursday, nearing their highest in nine months after a raid by Turkish troops into northern Iraq revived Middle East geopolitical jitters.

Data showing U.S. refiners were struggling to boost summer fuel production and Cyclone Gonu's disruption of Omani oil and gas exports lent additional support to the market, keeping Brent crude within a dollar of late May's $71.80 high.


Read more at Reuters Africa

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