Updated from 11:05 a.m. EDT
Crude futures were sinking below $72 Wednesday as the West debated Iran's response to an incentive package designed to halt its nuclear program. An unexpected increase in gasoline supplies was also pressuring prices.
Iran met its self-imposed deadline yesterday to respond to Western economic incentives, but refused to say whether it would halt uranium enrichment, the key point of the incentives package. Iran's apparent refusal to give a straight reply appeared to some Western diplomats as a ruse to buy time until the U.N.'s Aug. 31 deadline passes.
No details of Iran's 21-page response have been released. ...
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