mmcd3182
06-07-2006, 07:40 AM
Oil Prices Jump on Iran Threat
Crude oil prices were up more than a dollar a barrel Monday after Iran's supreme leader threatened to use oil as a weapon if the West punishes Tehran over its nuclear program.
Light, sweet crude for July delivery was trading above 73 dollars a barrel in electronic trading on the New York Mercantile Exchange at midday in Europe. The benchmark also rose on Friday following the kidnapping of eight foreigners working on a rig off the coast of Nigeria. The workers were released Sunday.
AAA Alabama says the average price statewide Monday for regular unleaded is $2.69. The auto club's Daily Fuel Gauge Report finds the highest prices in Mobile at $2.71. The cheapest metro average is found in Montgomery at $2.66.
Nationally, regular gas is $2.85 a gallon.
From the AP.
Crude oil prices were up more than a dollar a barrel Monday after Iran's supreme leader threatened to use oil as a weapon if the West punishes Tehran over its nuclear program.
Light, sweet crude for July delivery was trading above 73 dollars a barrel in electronic trading on the New York Mercantile Exchange at midday in Europe. The benchmark also rose on Friday following the kidnapping of eight foreigners working on a rig off the coast of Nigeria. The workers were released Sunday.
AAA Alabama says the average price statewide Monday for regular unleaded is $2.69. The auto club's Daily Fuel Gauge Report finds the highest prices in Mobile at $2.71. The cheapest metro average is found in Montgomery at $2.66.
Nationally, regular gas is $2.85 a gallon.
From the AP.