Oil mixed in Asian trade amid Iran tensions

SINGAPORE: Oil was mixed today in Asian trade amid renewed tensions over Iran's nuclear programme, analysts said.

New York's main contract, light sweet crude for January delivery, dropped five cents to USD 78.32 a barrel.

Brent North Sea crude for January delivery was 88 cents higher at USD 79.35 a barrel.

Both contracts had closed higher yesterday. "Iran is very bullish," said Ellis Eckland, an independent analyst.

Tensions simmered as Iran hit out at its long-time nuclear partner Russia over a yes vote for a censure motion at the UN atomic watchdog and insisted it was serious about plans for 10 additional uranium enrichment plants.

"Russia made a mistake. It does not have an accurate analysis of today's world situation," Iran's President Mahmoud Ahmadinejad said yesterday in a televised interview.

Iran announced on Sunday it plans to build 10 new uranium enrichment plants, heaping scorn on a rebuke by the UN atomic watchdog for constructing its second such plant near the Shiite holy city of Qom. Twenty-five IAEA members voted against Tehran and asked it to freeze the building of the plant.

In late US trade yesterday, the euro traded at USD 1.5082, up from USD 1.5005 late on Monday in New York.