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Home >> Business
UPDATED: 09:39, April 01, 2006
Oil prices hover above 66 dollars
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World crude oil prices fell slightly Friday, but still hovered above 66 dollars.

New York's main contract, light sweet crude for delivery in May, dropped 52 cents to 66.63 dollars a barrel.

On London's ICE Futures exchange, the price of Brent North Sea crude for May delivery declined 55 cents to 65.91 dollars a barrel.

Iranian Foreign Minister Manouchehr Mottaki criticized on Thursday a UN Security Council statement on its nuclear program, saying it was "nothing short of injustice, double-standard and power politics."

Traders are still concerned about the possibilities that Iran's oil exports would halt if the United Nations imposes Teheran an international sanction for its nuclear activities.

Iran is OPEC's number-two producer behind Saudi Arabia, producing four million bpd of oil and exporting 2.4 million bpd.

About one-fourth of Nigeria's daily output is still shut after a series of militant attacks. Nigeria is Africa's leading oil producer and the fifth-biggest source of U.S. oil imports.

Source: Xinhua


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