Iran was "in the process of examining
the proposal very seriously and will reply to it as soon as possible".
Iranian Foreign Minister
Manouchehr Mottaki said on Wednesday describin a new EU offer of incentives
to encourage Tehran to stop uranium enrichment as "very positive".
"Crude stocks
should indicate a slight decline due to an expected increase in refinery
activity and a modest decline in imports. Some further slippage in West
Coast crude supply should also heighten the odds of a draw." Energy consultant Jim
Ritterbusch said in a report, ahead of Wednesday's US stock data where
analysts polled by Platts expect a 975,000 barrel draw in commercial crude
stocks.
