Oil prices are rising after Iran lawmakers threatened to halt oil sales to Europe.
Benchmark crude on Wednesday rose 36 cents to $99.31 per barrel in New York. Brent crude rose 34 cents to $110.37 per barrel in London.
The latest threat from Iran follows a European Union decision to enforce an oil embargo against Iran starting this summer because of Iran’s secretive nuclear program. EU nations account for about 18 percent of Iran’s oil sales.
Meanwhile natural gas prices continue to rebound from recent 10-year lows, rising more nearly 6 percent to $2.70 per 1,000 cubic feet.
Gasoline pump prices in the U.S. were flat on Wednesday at a national average of $3.38 per gallon.
