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Oil at $150 a barrel is not far away say analysts The price of oil fell back on Friday, on hopes Iran would react positively to proposals to resolve a dispute over its nuclear development programme. However, prices stayed near the highs of more than $146 seen on Thursday. US light, sweet crude was down $1.28 at $144.01 a barrel, while London's Brent was down $1.49 at $144.59. The US, China, Russia, Germany, the UK and France have offered Iran trade and other incentives if it suspends its uranium enrichment programme. Iran said it had responded to the proposals, and had delivered its answer to the European Union's foreign policy chief Javier Solana, without giving any further details. Mixed bag A number of factors have combined to push oil prices higher, though some of the factors, such as the problems with Iran, have eased... [read full story]
