Wednesday, April 4, 2007

Oil steadies on Iran hopes, US fuel data lends support

(Reuters) - Oil steadied above $64 on Wednesday on hopes diplomacy would bring the release of 15 British sailors held by Iran and help ease tensions around the world's fourth-biggest oil exporter.

Prices drew some support from expectations that weekly U.S. data on fuel inventories later on Wednesday will show a slight drop in gasoline stocks in the world's top consumer ahead of peak summer demand.


Read more at Reuters Africa

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