(Reuters) - Brent crude hovered above $70 a barrel on Friday after surging to an eight-month high on fears that more U.S. refinery outages will constrict gasoline supplies already at unusually low pre-summer levels.
London Brent crude slipped 11 cents to $70.16 a barrel by 0226 GMT, eroding only a fraction of the previous day's more than $2 or 3.3 percent gains, the biggest one-day rise since a 5 percent surge in late January.
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