Oil prices stage rebound

0 Comments | AFP, June, 2009

LONDON (AFP) — Oil prices rebounded Tuesday as traders tracked the Iran crisis, and the weak US currency stimulated demand for dollar-priced crude, analysts said.

New York's main futures contract, light sweet crude for delivery in August, won 83 cents to 68.33 dollars a barrel.

London's Brent North Sea crude for August added 96 cents to 67.94 dollars per barrel.

Iran ruled out cancelling its disputed presidential vote on Tuesday, issuing a new warning to the main opposition leader and lashing out at UN "meddling" as it battles the most serious challenge to the Islamic regime in 30 years.

The nation is the world's third biggest crude exporter after Russia and Saudi Arabia and produces approximately 3.8 million barrels of oil per day.

As international...