Oil Falls as Iran Signals Confidence in Talks, Dollar Gains |
| Bloomberg - Jul 7, 2008 |
Crude oil fell after Iran's foreign minister expressed confidence in talks with western governments on the country's nuclear program and the dollar gained before a meeting of Group of Eight leaders.
Talks are ``in a new environment with a new approaching perspective,'' Foreign Minister Manouchehr Mottaki said in a CNN interview yesterday, and ``new approaches'' are possible with the U.S. The dollar rose to its highest against the euro in more than a week as G-8 leaders are expected to support the currency.
On the Iran situation, ``there's a new package of incentives, and everybody's talking, and that in itself is a positive,'' said Michael Fitzpatrick, vice president for energy risk management at MF Global Ltd. in New York. ``The dollar is responding to happy talk coming out of the G-8.''
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- Posted: 2008-07-07 09:00:40
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