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Iran jitters lift oil prices Sydney morning herald - whitethorn 26, 2012 World oil prices edged higher on Friday amid worries some Irans continuing stand rancid with major powers everywhere its disputed thermo nuclear program. New Yorks main contract, West Texas Intermediate (WTI) crude for deliverance in July added 20 cents to close at $US90.86 a drumfish. brent North Sea crude for July gained 28 cents to $US106.83 a barrelful in London trade. Volumes were thin in New York as markets got a head start on the three-day weekend. Markets will be closed on Monday to mark Memorial Day, the holiday that unofficially kicks off the US summer vacation season. Not oft to report on a day where the market unfeignedly didnt move, express BMO Capital Markets analysts said. Fundamentally the market continues to be snappy with economic challenges facing Europe, the US recovering but non as quickly as some would like, and now watchword of mainland China effectivenessly sl owing down, they added. Investors remained anxious about the potential departure of Greece from the eurozone as it grapples with its massive debt crisis and its possible impact on other eurozone nations with solemn financial strains, such as Italy and Spain.

Worries over Irans nuclear program, pretend of masking a weapons initiative, propped up prices in New York, said Andy Lipow at Lipow Oil Associates. The market doesnt demand to sell off before going into a immense weekend granted some of the headlines regarding Iran nuclear enrichment that inspectors found, Lipow said. The International atomic Energy result disc overed higher-grade uranium traces in Iran, ! dictum it was likely delinquent to a technical glitch earlier than a concealed attempt to enrich to arms grade. Iran and sixer world powers terminate two days of intense nuclear talks in Baghdad on Thursday with no visible boost and agreed to meet next month in Moscow, on June 18-19. Commerzbank analyst Carsten Fritsch said that oil prices were pleasant support from the wish of a breakthrough at the talks....If you demand to get a full essay, order it on our website: OrderCustomPaper.com

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