Crude prices mixed in Asian trade on Greek debt concerns, Iran
“India should allow only 2008 participants in new sale,” he said at a press conference on Monday.
Crude prices were mixed in Asian trade on Monday as traders weighed possible supply disruptions in the Middle East and Africa, and the unresolved debt crisis in Greece, analysts said.
New York's main contract, West Texas Intermediate crude for delivery in March, was down 56 cents at $97.28 a barrel in morning trade. Brent North Sea crude for March delivery gained 25 cents to $114.83.
“Oil prices remain affected by strong bullish and bearish factors," said Ken Hasegawa, energy desk manager at Newedge brokerage in Japan.
While concerns over a supply disruption in Africa and Iran remained strong, prices were being weighed down by drawn out talks on Greek sovereign debt, Hasegawa told AFP.
Athens has been in talks with the European Union, the International Monetary Fund and the European Central Bank on further action that is required to unlock a new eurozone rescue deal worth 130 billion euros ($171 billion). These talks have been going on since October, but no agreement has been reached yet.
Pressure is also high for an agreement with private lenders to wipe out part of the 350 billion euro Greek debt, as Athens faces loan repayments of 14.4 billion euros ($19 billion) due on 20 March this year.
Traders were also closely monitoring the situation in the Middle East, as tensions between Iran and the West remain high, analysts said.
Crude producer Iran, which already faces four rounds of UN sanctions, vehemently denies Western allegations that its nuclear programme masks an atomic weapons drive, and insists that it is for civilian purposes only.