Oil drops to near $102 ahead of Iran nuclear talks

Oil
By Alex Kennedy on April 9, 2012

SINGAPORE (AP) — Oil prices fell to near $102 a barrel Monday in Asia amid hopes international talks this week may help avoid military action over Iran's nuclear program.

Benchmark oil for May delivery was down $1.19 to $102.12 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added $1.84 to settle at $103.31 in New York on Thursday. The global oil market was closed Friday for the Good Friday holiday.

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