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Light sweet crude for September rose 18 cents to settle at $72.63 a barrel
Aug. 22, 2006
Oil prices held steady Tuesday after Iran's top nuclear negotiator said Tehran was ready for "serious negotiations" over its disputed program but left open the question of whether it would suspend uranium enrichment.
Light sweet crude for September rose 18 cents to settle at $72.63 a barrel on the New York Mercantile Exchange. October Brent crude on London's ICE Futures exchange rose 18 cents to $73.56 per barrel.
Iran's nuclear negotiator, Ali Larijani, said "Iran is prepared as of Aug. 23 to enter serious negotiations" with the countries that proposed a package of incentives aimed at persuading it to suspend uranium enrichment, according to state-run television.
However, with the matter still unresolved, Prudential Financial energy broker Aaron Kildow said there would be "no relief" in oil prices. "The market is still stuck in limbo," Kildow said.
Natural gas futures climbed 38.4 cents, or 5.8 percent, to settle at $7.008 per 1,000 cubic feet.
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