Iran fears ends oil's four-week slide

Oil prices begin rebound after four-week slide; again topping $120 a barrel Rise comes amid fears over tension linked to Iran's nuclear program Analysts also believe that markets were oversold on sliding U.S. oil demand VIENNA, Austria (AP) -- Concerns that tension over Iran's nuclear program could lead to conflict propelled oil prices upward Thursday to above $120 a barrel, halting a four-week slide. Demand in the U.S. has been concentrating the minds of traders in recent days. Light, sweet crude for September delivery rose $1.48 to $120.06 a barrel in electronic trading on the New York Mercantile Exchange by afternoon in Europe. The contract dropped 59 cents overnight to settle at $118.58 a barrel. "The market has been ignoring supply-side concerns lately, but it's looking like the world powers will go forward and place... [read full story]