New York oil prices breached 71 dollars on Wednesday, ahead of the latest update on US energy stockpiles, as traders monitored political tensions in major crude producer Iran. New York's main futures contract, light sweet crude for delivery in July, gained 74 cents to 71.21 dollars a barrel. Brent North Sea crude for August delivery advanced 70 cents to 70.94 dollars. Jason Feer, Asia-Pacific general manager of energy market analysts Argus Media, said political problems in Iran were helping push prices higher. "It's one of those things where when there's a possibility of a major producer in the Gulf having a problem, there will be a knee jerk reaction in the market," Feer said.