OIL PRICES REBOUND ON WEAK DOLLAR

Oil prices rebounded on the back of a weak dollar and the raging Iranian political crisis.

New York's main futures contract, light sweet crude for delivery in August, rose $US1.74 from its closing price Monday to end at $US69.24 a barrel as the contract made its debut Tuesday.

London's Brent North Sea crude for August climbed $US1.82 to close at $US68.80.

Gold for August delivery gained $US3.30, or 0.36 per cent, to $US924.30 an ounce on Tuesday.

July silver rose 14 cents, or 1.02 per cent, to $US13.845 an ounce.

July copper futures gained 6.65 cents to $2.1985 a pound. link.....