Oil prices rose Wednesday on worries that possible sanctions against Iran, OPEC’s second-largest producer, over its nuclear ambitions and political unrest in Nigeria could threaten global oil supplies.
Light sweet crude for February delivery rose 39 cents in morning trading to $66.70 a barrel on the New York Mercantile Exchange, after rising as high as $66.83 in European trading. On Tuesday, the contract leapt $2.39 to settle at $66.31 a barrel, a three-and-a-half month high.
