Oil price climbs on fear Iran may stop more oil

AP News
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Posted: Feb 21, 2012 4:18 PM
Oil price climbs on fear Iran may stop more oil

Oil prices have climbed to the highest level since May on concerns that Iran will cut off more oil to Europe. Here's how energy contracts traded on Tuesday.

On the New York Mercantile Exchange:

Benchmark crude rose by $2.65 to finish at $106.25 per barrel.

Gasoline rose by 5.46 cents to end at $3.0702 per gallon.

Heating oil rose by 5.04 cents to finish at $3.2393 per gallon.

Natural gas lost 5.8 cents to end at $2.6260 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude rose by $1.61 to finish at $121.66 per barrel.