Monday, April 2, 2007

Oil eases on hope for diplomacy in Iran stand-off

(Reuters) - Oil prices dipped on Tuesday as the market was soothed by the potential for a diplomatic solution to a stand-off between OPEC producer Iran and Britain.

U.S. light crude for May delivery fell 22 cents to $65.72 a barrel by 0348 GMT, after rising 7 cents on Monday. London Brent crude lost 9 cents to $68.65, trimming 64-cent gains on Monday, when it hit a seven-month high of


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