Oil Prices Lept to a 3 month High because of political concerns involving Iran. The price is now just above 65$ a barrell. The Iranian Nuculear situation is the main cause of the prices increases. Problems in Nigeria are also affecting the price. the cold winter sure isn't helping the prices.

"The Iranian nuclear issue is driving the market. Traders are short-covering because they know if something happens in Iran the market would be in confusion," said Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures in Tokyo. "The issue poses a threat of supply disruption in a major oil-producing country."