Oil prices rise on renewed Iran jitters

[OhioChick]

KUALA LUMPUR, Malaysia - Oil prices inched past the $64 a barrel mark Tuesday in Asia, as traders reacted to news that output at a mammoth BP PLC platform in the Gulf of Mexico would not be restored until mid-2008, at the earliest.

Oil traders were also cautious after Iran's latest threat to halt nuclear inspections if the U.N. went ahead with sanctions over its enrichment program.

Tuesday midmorning in Singapore, benchmark oil prices on the New York Mercantile Exchange for front-month October contracts were up by as much as 32 cents to $64.12 a barrel, before easing to $64.02 a barrel in the afternoon. It settled at $63.80 overnight in New York.

October contracts expire Wednesday.

http://news.yahoo.com/s/ap/20060919/ap_on_bi_ge/oil_prices

[Javaman]

1. here we go again. GOP is realizing that the lower prices aren't

helping them, so they are are going back to reaping huge profits.

FEAR FEAR FEAR!!!!

[lonestarnot]

2. Maybe they won't hold until after the election as planned.