Oil prices closed higher Friday after touching a two-month low below 70 dollars a barrel.

Crude for September settlement closed at 71.14 dollars a barrel on New York Mercantile Exchange. In morning trading, the price had fallen as low as 69.60 dollars a barrel, the lowest level since June. 21.

Brent North Sea crude for October delivery rose to 72.30 dollars a barrel.

In the Middle East, the United Nations is working to deploy a multinational peacekeeping force. UN officials said that any delay could undermine the cease-fire.

The market is also keeping a close eye on news from Iran and the Democratic People's Republic of Korea.

Source: Xinhua