Oil rose above $76 today as the ongoing crisis in the Middle East and a tropical storm in the Gulf of Mexico threatens supply.
An Iraqi pipeline carrying crude from the country's northern oilfields to Turkey's Ceyhan port was bombed on Monday, pushing back the planned restart of exports along the route, industry sources said.
Concerns over also Iran persisted as President Mahmoud Ahmadinejad insisted on the country's right to produce nuclear fuel, despite a UN resolution demanding Tehran suspends its nuclear activities or face the threat of sanctions.
