Oil rises slightly after big decline

Oil edged towards $62 on Tuesday after six straight days of losses, as market attention shifted to Iran's nuclear program and a likely drop in gasoline stockpiles in the U.S.

Price falls began on March 30 and gathered pace last week when Iran released 15 British sailors and marines, wiping more than $4 off a barrel of U.S. crude.

U.S. crude rose 4 cents to $61.5, after tumbling $2.77 or 4.3 percent on Monday. London Brent crude rose 15 cents to $66.78, recovering from a $1.65 loss in Monday trade subdued by the Easter holiday.

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- Posted: 2007-04-10 09:59:11

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