Oil fell sharply on Friday, after rallying 4 percent this week, as Iran's foreign minister said Tehran would not use oil as a weapon in the row over its nuclear programme and that it was open to compromise in negotiations, according to Reuters. U.S. light crude dropped $1.15 to $66.00 a barrel by 1900 GMT, after gaining 70 cents on Thursday to reach the highest level since early February. London Brent crude slipped 57 cents at $65.89 a barrel. Iranian Foreign Minister Manouchehr Mottaki said the world's fourth-largest oil exporter would not cut supplies in the dispute. But he stressed Tehran would not give up its right to develop nuclear energy for civilian use. --SP 23 04 Local Time 20 04 GMT
