Wednesday, 06 June 2007

Crude Oil Futures Increase on Reports of Turkish Forces Crossing Into Iraq

(Bloomberg) -- Crude oil rose on reports that
thousands of Turkish troops moved into northern Iraq to chase
Kurdish guerillas.

Turkish troops crossed into Iraq in pursuit of members of
the Kurdistan Workers' Party, or PKK, the Associated Press
reported citing unidentified security officials. Iraq has the
world's third-biggest proved oil reserves, according to BP Plc.
Oil fell earlier on a U.S. report showing that gasoline supplies
surged last week as refiners cut operating rates.


Read more at Bloomberg Energy News

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