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World Crude Price Dropped

World crude oil prices fell below $71 on Thursday

World crude oil prices fell below $71 on Thursday on U.S. improved energy stocks data.

New York's Light Sweet crude for delivery in July, fell 95 cents to finish at $70.34 per barrel in closing trades.

In London, Brent crude futures for July delivery declined 1.02 dollars to $69.39 per barrel.

The Department of Energy said Thursday that reserves of gasoline rose by 800,000 barrels to 209.3 million in the week ending May 26. Crude oil reserves increased 1.6 million barrels to 345.5 million in the week.

Iran refused on Thursday any precondition for talks with the United States over its controversial nuclear issue.