Oil prices fall in Asian Trade
'Pakistan Times' Foreign Desk

SINGAPORE: Oil prices fell in Asian trade on Tuesday on hopes Iran's row with the West over its controversial nuclear programme could be resolved after EU officials arrived in Tehran for talks, dealers said.

At 11:00 am (0300 GMT), New York's main contract, light sweet crude for July delivery was down 13 cents at 72.47 dollars a barrel from its close of 72.60 dollars in the United States Monday.

Brent North Sea crude for July delivery was flat at 71.37 dollars.

European Union foreign policy chief Javier Solana flew into Tehran late Monday to hand over an international nuclear proposal to Iran's leadership, voicing hopes of a "new relationship" with the Islamic republic.●