Oil rises on report of Turkish troops in Iraq

[sabra]

Source: Reuters

NEW YORK (Reuters) - Oil prices rose above $71 a barrel on Wednesday after news Turkish troops conducted operations in northern Iraq rekindled concerns over escalating tensions in the Middle East.

Prices were also buoyed by a U.S. government report showing the nation's refineries struggling to boost fuel production at the start of the peak demand summer vacation season, and disruptions in oil and gas exports from Oman after a cyclone in the Arabian Sea shut loading operations.

...

U.S. oil traders said they were concerned the incursion could escalate tension in the energy-rich region.

"The Turkey thing popped us up," said Phil Flynn, analyst at Alaron Trading in Chicago. "The concern is the Middle East could get out of hand."

Read more: http://investing.reuters.co.uk/news/articleinvesting.aspx?type=hotStocksNewsUS&storyID=2007-06-06T200216Z_01_SP207474_RTRUKOC_0_US-MARKETS-OIL.xml

[RUMMYisFROSTED]

1. "Oil Rises On Report Of Cloud Being Spotted In Sky."

www.horseshit.com

[bemildred]

2. Oil found to float in pools of horseshit. nt

[mediawatch]

3. "the middle East could get out of hand"

r u kidding me!

[Lone_Star_Dem]

4. They rise when the wind blows

This is the second reason they've given for oil prices going up in the past week.

[BrokenBeyondRepair]

5. "The concern is the Middle East could get out of hand."

it's not a concern; it's a plan