In spite of swelling U.S. inventories, Oil prices moved towards $63 a barrel on Friday on the back of lingering political risks to supply due to Iran's decision to end U.N. inspections of its nuclear facilities and to resume uranium enrichment for power generation. Iran is the second-biggest producer within OPEC, and exports 2.7 mln barrels of crude per day.
Strained relations between US and Venezuela have been another focus for oil investors. The developments add to uncertainty caused by militant attacks on Nigeria's oil infrastructure in January.
10-Feb-06 
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