oil back over $60 as ..., page-12

iran ditches russian proposal 'It is apparently going to take more than growing inventories to turn prices seriously lower,' said Michael Fitzpatrick, an analyst at Fimat USA. U.S. crude supplies were above 335 million barrels for the week ended March 3 -- the highest level since May 1999, the Energy Department reported Wednesday.

'The conclusion is probably being made that any surplus will be promptly sopped up as soon as seasonal demand kicks in,' Fitzpatrick wrote in a note to clients.

At the same time, the lack of a diplomatic solution in Iran will continue to help bolster the price of crude, according to Deborah White, a senior energy analyst at Societe Generale.

Source http://www.forbes.com/markets/feeds/afx/2006/03/12/afx2588360.html

and then

here is your iran crisis

http://breakingnews.iol.ie/news/story.asp?j=175709280&p=y757x9986