MercoPress. South Atlantic News Agency

Oil prices nearing 67 US dollars a barrel

Crude oil rose for a second day in New York, nearing $67 a barrel, on concern shipments may be disrupted from Iran, which accounts for almost 5 percent of world output.

The U.S., Britain and France want the United Nations Security Council to consider measures including sanctions over Iran's refusal to abandon nuclear research. Such action might limit investment in Iranian oil production, or prompt the nation to retaliate by cutting exports.

''Iran is the real threat because there's just so many ways it could play out,'' said Mark Waggoner, president of Excel Futures Inc. in Huntington Beach, California. ''This is the one that could actually get us to $100.''

Crude oil for February delivery rose as much as 60 cents, or 0.9 percent, to $66.91 in after-hours electronic trading on the New York Mercantile Exchange. The contract traded at $66.54 at 8:34 a.m. in London. Prices, which reached a record $70.85 on Aug. 30, are 38 percent higher than a year ago.

Yesterday, the contract jumped $2.39, or 3.7 percent, to $66.31, the highest close since Sept. 29 and the biggest one-day gain since Sept. 19, when Hurricane Rita threatened the U.S. Gulf of Mexico coast. Oil also rose after unrest in Nigeria reduced output.

In Tokyo, oil futures rose to a record. Iran is the third- largest supplier of oil to Japan, where demand has been boosted by cold winter weather.