Oil mixed in Asian trade amid Iran tensions
Thursday, 3 December 2009
SINGAPORE, Dec 2 (AFP): Oil was mixed Wednesday in Asian trade amid renewed tensions over Iran's nuclear programme, analysts said.
New York's main contract, light sweet crude for January delivery, dropped five cents to 78.32 dollars a barrel.
Brent North Sea crude for January delivery was 88 cents higher at 79.35 dollars a barrel. Both contracts had closed higher Tuesday.
"Iran is very bullish," said Ellis Eckland, an independent analyst. Tensions simmered as Iran hit out at its long-time nuclear partner Russia over a yes vote for a censure motion at the UN atomic watchdog and insisted it was serious about plans for 10 additional uranium enrichment plants.
"Russia made a mistake. It does not have an accurate analysis of today's world situation," Iran's President Mahmoud Ahmadinejad said Tuesday in a televised interview.
Iran announced Sunday it plans to build 10 new uranium enrichment plants, heaping scorn on a rebuke by the UN atomic watchdog for constructing its second such plant near the Shiite holy city of Qom.
New York's main contract, light sweet crude for January delivery, dropped five cents to 78.32 dollars a barrel.
Brent North Sea crude for January delivery was 88 cents higher at 79.35 dollars a barrel. Both contracts had closed higher Tuesday.
"Iran is very bullish," said Ellis Eckland, an independent analyst. Tensions simmered as Iran hit out at its long-time nuclear partner Russia over a yes vote for a censure motion at the UN atomic watchdog and insisted it was serious about plans for 10 additional uranium enrichment plants.
"Russia made a mistake. It does not have an accurate analysis of today's world situation," Iran's President Mahmoud Ahmadinejad said Tuesday in a televised interview.
Iran announced Sunday it plans to build 10 new uranium enrichment plants, heaping scorn on a rebuke by the UN atomic watchdog for constructing its second such plant near the Shiite holy city of Qom.