SINGAPORE — Oil prices climbed over $73 on Monday after Iran hinted it might use oil production as a weapon in its nuclear dispute with the West and hitches at U.S. refineries spurred worries over fuel supplies. U.S. light crude for July delivery traded 82 cents or 1.1 percent higher at $73.15 a barrel by 0408 GMT, after a high of $73.55 and gains of $1.99 on Friday. London Brent crude rose 92 cents to $71.95 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. U.S. Secretary of State Condoleezza Rice reacted to his […]

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