Business Today
Loading...

Oil prices rebound ahead of Iran talks

The head of the International Atomic Energy Agency pressed Iran over inspections during a visit to Tehran on Monday. But there was no signs of breakthrough deal.

IANS | May 22, 2012 | Updated 13:52 IST

US crude prices rebounded on Tuesday after six straight days of declines ahead of another round of Iran nuclear talks on May 23.

The head of the International Atomic Energy Agency pressed Iran over inspections during a visit to Tehran on Monday. But there was no signs of breakthrough deal. Speculations of more sanctions against Iran pushed the prices up, Xinhua reported.

The US senate on Monday approved new sanctions against Iran's energy sector in an effort to further pressure Tehran on its disputed nuclear programme.

Light, sweet crude for June delivery rose by $1.09, or 1.19 per cent to settle at $92.57 a barrel on the New York Mercantile Exchange. In London, Brent crude for July delivery also rose and last traded around 109 dollars a barrel.

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close