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Oil prices fall below 71 dollars on improved energy stocks
www.chinaview.cn 2006-06-02 05:27:00

    NEW YORK, June 1 (Xinhua) -- World crude oil prices fell below 71 dollars Thursday on U.S. improved energy stocks data.

    New York's main contract, light sweet crude for delivery in July, fell 95 cents to finish at 70.34 dollars per barrel in closing trades.

    In London, Brent North Sea crude for July delivery declined 1.02 dollars to 69.39 dollars per barrel.

    The Department of Energy said Thursday that reserves of gasoline rose by 800,000 barrels to 209.3 million in the week ending May 26. Crude oil reserves increased 1.6 million barrels to345.5 million in the week.

    Iran refused on Thursday any precondition for talks with the United States over its controversial nuclear issue. The refusal came in response to U.S. Secretary of State Condoleezza Rice's remarks on Wednesday that Washington would join European countriesin talks with Iran if Teheran suspends enrichment.

    The EU has put forward a package of both incentives, including providing a light-water reactor to Iran, and possible penalties ifIran fails to cooperate. Enditem

    

Editor: Wang Nan
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