Oil prices mixed on Iran-EU talks

World oil prices ended mixed Thursday on the talks between Iranian and European Union (EU).

New York's main contract, light sweet crude for delivery in November, fell 20 cents to close with 62.76 dollars a barrel.

In London, Brent North Sea crude for November delivery rose 33 cents to settle with 62.54 dollars a barrel.

Crude futures have fallen more than 20 percent from its record 78.40 dollars per barrel in mid-July, as demand was downgraded and supply worries eased.

The talks between Iranian and EU envoys had achieved some progress, EU foreign policy chief Javier Solana said on Thursday. Iran's chief nuclear negotiator Ali Larijani and Solana continued their talks on Thursday after their initial discussions had achieved no results on Wednesday night.

The talks between the two have been regarded as a last chance for Iran to agree to a suspension of its uranium enrichment activities. Iran is OPEC's second largest producer following Saudi Arabia, pumping 4 million barrels of crude oil and exporting 2.4 million barrels per day.

Source: Xinhua