# Oil prices mixed on worries over reports of Turkish push into Iraq



## shevaub (8 June 2007)

Oil prices were mixed Thursday as the market reacted to a report of lower U.S. refinery utilization rates.

Brent oil prices fell following confirmation that Oman's main oil port hadn't suffered major damage from Cyclone Gonu.

"The most significant thing yesterday was a big fall in refinery utilization," said Michael Davies, an analyst at Sucden. "That's the really big story - there are going to be concerns whether the U.S. can cope with gasoline over summer."

The U.S. Department of Energy said average throughput rates in the week to June 1 were at 89.6 percent of capacity, down 1.5 percentage points.

Light, sweet crude for July delivery rose 24 cents to US$66.17 a barrel in electronic trading on the New York Mercantile Exchange at midday in Europe. On Wednesday, the contract rose 35 cents to settle at US$65.96 a barrel.
http://www.iht.com/articles/ap/2007/06/07/business/EU-FIN-MKT-Oil-Prices.php


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## wayneL (8 June 2007)

The plot just keeps getting thicker over there.


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## Kauri (18 December 2007)

Just a small group... 300 or so, and only a couple of K's in... maybe a test to see what reaction there is???


> In the news, the military excursion deeper into Northern Iraq dominates the headlines. The small operation has already drawn criticism from the Kurdish government but so far we have not seen an international response


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## chops_a_must (18 December 2007)

Kauri said:


> Just a small group... 300 or so, and only a couple of K's in... maybe a test to see what reaction there is???




I'd say any attacks on the Kurds will see lower oil prices. It's just a ploy to get them to give up their oil tarriffs on exported oil to Turkey.


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## jman2007 (19 December 2007)

Could just be an advance gaurd for a much bigger push to come later.  I think the Turks are playing with fire, as history shows a lot of these -stan nations tend to have a history of bogging down and defying invading forces despite being numerically inferior.  Maybe we will need to add Kurdistan to the list of failed military op's.  I think the crude oil price will remain volatile until it becomes clear what the extent of the Turkish military repsonse is.


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