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Global commodity prices have not softened as expected: Pranab Mukherjee

-Reuters

Global commodity prices have not softened as much as anticipated as speculators are keeping prices high, Finance Minister Pranab Mukherjee said on Tuesday in a statement.

Oil prices held near $107 a barrel on Tuesday as fresh sanctions, and the prospect of military action, against Iran offset persistent worries about the health of Western economies and fuel demand.