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Home >> Business
UPDATED: 08:56, September 06, 2006
Oil prices end mixed on tests in Gulf of Mexico
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World crude oil prices ended mixed on Tuesday on oil companies's successfully drill tests in Gulf of Mexico.

New York's main contract, light sweet crude for delivery in October, fell 59 cents at 68.60 dollars per barrel.

In London, Brent North Sea crude for October delivery rose 38 cents at 68.09 dollars per barrel.

Three energy companies, U.S.-based Chevron Corp. and Devon Energy, and Norway's Statoil, announced Tuesday that they had successfully drilled for oil in the Gulf of Mexico's deep waters, suggesting there may be more oil in the region that already provides a quarter of U.S. output.

Meanwhile, traders still worry about the possibility that Iran's oil exports would halt if the United Nations imposed international sanctions on Teheran. Iran is OPEC's No. 2 producer following Saudi Arabia, pumping 4 million barrels of crude oil and exporting 2.4 million barrels per day.

Source: Xinhua


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