Just when you thought gas prices had topped off for now...


SINGAPORE -- Oil prices climbed over a dollar to above 73 dollars on Monday after Iran hinted it might use oil production as a weapon in its nuclear dispute with the West and hitches at US refineries spurred worries over fuel supplies. US light crude for July delivery traded 1.07 dollars or 1.5 percent higher at 73.40 dollars a barrel by 0108 GMT, after gaining 1.99 dollars on Friday. London Brent crude rose 1.22 dollars to 72.25 dollars a barrel.

Iran's Supreme Leader Ayatollah Ali Khamenei said if the United States makes a "wrong move" over Iran, energy flows from the world's fourth largest exporter will be endangered.

"The gains are a combination of everything but most importantly it's Iran," said broker John Brady from ABN AMRO in New York. "We've had mixed messages before but it certainly stokes fears."

Tension between Iran and the West over Tehran's nuclear program have helped drive oil's 20 percent rally this year.

Iranian officials have previously ruled out using oil as a weapon in their nation's nuclear standoff with the West, but Khamenei's comments suggested Iran could disrupt supplies if pushed.
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but Condi is apprehensive about Iran's threat to stop the flow of oil if it is attacked...

U.S. Secretary of State Condoleezza Rice took a wait-and-see approach toward Iran's next moves in a dispute over its nuclear ambitions, after the country's top religious leader suggested on Sunday it could disrupt oil supplies if pushed.

"Well, I think we shouldn't place too much emphasis on a move of this kind; after all Iran is very dependent on oil revenue," Rice told Fox News Sunday.
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