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Oil down as Iran prepares response to nuclear proposal

LONDON (MarketWatch) — Oil futures turned lower Friday after Iran signaled it would soon respond to an international proposal on its nuclear program. Nymex crude oil futures for August delivery were down $1.18 to $144.11 in electronic trading. The contract closed Thursday at $145.29 a barrel — the loftiest closing level ever for the exchange — after hitting a record, intra-day high of $145.85. Iranian state radio said the country’s top nuclear negotiator told European Union foreign policy chief Javier Solana by phone that Iran would present its response Friday, the Associated Press reported. The EU has offered Iran incentives to stop uranium enrichment.

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Original post by Forextvblog

This entry was posted on Friday, July 4th, 2008 at 4:21 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Oil down as Iran prepares response to nuclear proposal”

  1. Oil down as Iran prepares response to nuclear proposal Says:
    July 4th, 2008 at 10:25 am

    […] Go to the author’s original blog: Oil down as Iran prepares response to nuclear proposal […]

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