March 4, 2006	Saturday	Safar 3, 1427

LONDON, March 3: World oil prices rose for the fourth day in a row on Friday as traders fretted over crude supplies from major exporter Iran. New York’s main contract, light sweet crude for delivery in April, added 24 cents to $63.60 per barrel in electronic deals.

In London, the price of Brent North Sea crude for April delivery won 28 cents to $64.35 per barrel.

In Friday trading oil prices were higher as the market continues to focus on supply concerns, analysts at the Sucden brokerage said.

The market is now beginning to turn its attention towards two key meetings next week that could have major implications for the oil market.

Owing to high oil price, most analysts expect the Opec to maintain its current production quota of 28.0 million bpd, despite some disagreement amongst member nations.

Some are suggesting that there should be a cut in production because of plentiful supplies, but we believe that output will remain unchanged as a result of prices well above $60 a barrel and the risk of supply disruptions, Sucden analysts added.—AFP