As concern mounted about political developments in Iran and other oil-rich regions, crude oil prices closed flat after hit a session high. New York's main oil contract, light sweet crude for delivery in February, hit a high for the day at US$65.10 a barrel, the highest since early October, and closed at US$63.94. In London, the price of Brent North Sea crude for February delivery closed at US$62.62 a barrel.
Tension continues to mount in the Middle East, as Iran, after a two year break, is pushing ahead with plans to resume nuclear research, despite condemnation from Europe and the U.S. On Thursday, Iran broke two additional seals on its nuclear research facilities, prompting Germany, France and the U.K. to seek an emergency meeting with the International Atomic Energy Agency.
13-Jan-06 
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