Oil prices rose to $67 a barrel today after threats that al-Qaeda was preparing attacks on the United States added to worries over supplies from crude exporters Iran and Nigeria.
US crude oil gained 21 cents to $67.04 a barrel after hitting $67.11, the highest level in nearly four months. London Brent crude rose 16 cents to $65.39 a barrel.
Prices surged more than $1 yesterday as the potential for major supply outages outweighed weekly US government data that showed crude and fuel inventories piling up.
In a tape broadcast by al-Jazeera, Osama bin Laden warned on Thursday that al-Qaeda was preparing new attacks inside the United States, the world's top oil consumer.
This overshadowed an unexpected 2.7 million barrel rise in US crude stocks and builds in distillate products last week.
Just over 220,000 barrels per day, or 10 per cent, of Nigerian oil production has already been shut following attacks by militants, who have threatened to target all oil companies operating in the world's eighth largest exporter.
The lost supply comes as traders worry about the dispute between the West and Iran, the world's fourth largest oil exporter.
Iran faces referral to the UN Security Council over concerns it is seeking to build an atomic bomb. Iran has denied the charge, and analysts fear it might hold back crude exports in response to any punishment from the West.