Thursday, June 07, 2007

Oil rises above $66 after Turkish troops raid Iraq - Jun. 7, 2007

"Oil above $66 after Turkish raid
Traders wary over exports from the Middle East after Turkish troops raid northern Iraq; U.S. refiners struggle, offsetting large build of gasoline stocks.
June 7 2007: 6:00 AM EDT

LONDON (Reuters) -- Oil prices rose above $66 a barrel Thursday after a raid by Turkish troops into northern Iraq revived worries over exports from the Middle East, which pumps a quarter of the world's oil.

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."

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