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Iran jitters lift oil prices Sydney morning herald - may 26, 2012 World oil prices edged higher on Friday amid worries some Irans continuing standturned with major powers everywhere its disputed thermo atomic program. New Yorks main contract, West Texas Intermediate (WTI) crude for pitch in July added 20 cents to close at $US90.86 a drumfish. brent goose North Sea crude for July gained 28 cents to $US106.83 a drum 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 on the side kicks off the US summer vacation season. Not frequently to report on a day where the market unfeignedly didnt move, utter BMO Capital Markets analysts said. Fundamentally the market continues to be brisk with economic challenges facing Europe, the US recovering but non as quickly as some would like, and now watchword of mainland China effectivenessly slowing 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 crude(a) financial strains, such as Italy and Spain. Worries over Irans nuclear program, suspect 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 presumptuousness some of the headlines regarding Iran nuclear enrichment that inspectors found, Lipow said. The International atomic Energy billet discovered higher-grade uranium traces in Iran, dictum it was likely imputable to a technical glitch earlier than a concealing attempt to enrich to arms grade. Iran and sixer world powers end two days of intense nuclear talks in Baghdad on Thursday with no visible show up and agreed to meet next month in Moscow, on June 18-19. Commerzbank analyst Carsten Fr itsch said that oil prices were pleasant su! pport from the need of a breakthrough at the talks....If you demand to get a full essay, order it on our website: BestEssayCheap.com

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