Crude prices higher on politics

Published speculation over the weekend that the United States is thinking about a military move toward Iran helped send crude oil prices higher on Monday. European Union representatives, meanwhile, met during the day to consider less drastic measures - travel bans on Iranian officials and restrictions on what subjects Iranian students in Europe may study, for example - in response to Iran’s renewed nuclear program. Also affecting oil prices were new threats from Nigerian militants against oil facilities and workers there. Output from Nigerian facilities is still down by half a million barrels per day.

May delivery Brent crude prices on the International Petroleum Exchange were up 66 cents to $67.95 per barrel. Elsewhere, West Texas Intermediate crude May contracts gained 64 cents to $68.03 per barrel.