Oil slips as tension eases on Iran

Brent crude oil slipped towards $67 a barrel today, extending the previous day's losses made after tension eased between the …

Brent crude oil slipped towards $67 a barrel today, extending the previous day's losses made after tension eased between the European Union and Iran over the Opec member's nuclear programme.

Prices had come under pressure on Thursday after Iran's chief nuclear negotiator Ali Larijani said Tehran and the EU had neared unity in some areas of their talks.

A dispute between the West and Iran over its nuclear programme has dragged on for nearly a year, keeping oil prices supported as investors anticipate possible supply disruptions.

Mr Larijani said on Thursday that Tehran and the EU -due to meet again in two weeks' time - were nearing "a united view" and that new ideas had been raised to break an impasse.

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London Brent crude, currently seen as more representative of global oil prices, was off 25 cents at $67.40 a barrel by 1513 GMT after falling 92 cents on Thursday.

US crude was up 2 cents at $65.08.