Oil prices are stable above $71 a barrel on Thursday
Oil prices are stable above $71 a barrel on Thursday, nearing their highest in nine months even as a raid by Turkish troops into northern Iraq revived Middle East geopolitical jitters.
Other developments particularly showing US refiners struggling to boost summer fuel production and Cyclone Gonu disrupting Omani oil and gas exports lent additional support to the market, keeping Brent crude within a dollar of late May's $71.80 high.
London Brent crude was up eight cents at $71.10 a barrel at 0213 GMT after rising 57 cents on Wednesday, continuing five day of gains. US crude nudged up six cents to $66.02.