BREAKING NEWS

Iranian oil minister says current crude prices are 'good'

By REUTERS

NOVEMBER 1, 2011 12:12

Iran's oil minister said on Tuesday that current international crude prices are "good" and predicted that prices will remain unchanged until March.

"The current oil prices are good ... we are not expecting the prices to change in winter," Rostam Qasemi told a news conference.

Brent crude has averaged over $111 this year and traded over $109 a barrel on Monday.

Oil prices slipped on Tuesday on a stronger US dollar, continuing uncertainty about the resolution of the euro zone's debt crisis and the collapse of MF Global Holdings.

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