Oil Surpasses $65 a Barrel, Highest in Three Months

Crude oil prices have risen to a three-month high, topping $65 a barrel in New York, Bloomberg is reporting online today. The hike is the result of concern that unrest in Nigeria and possible United Nations sanctions against Iran could disrupt supplies from the two countries, which together account for 7.5 percent of global production.

According to Sky News, Nigerian militants are threatening to attack oil companies in the days to come. Sabotage already has cut the country's output by 4 percent since last week.

The U.S. and U.K. yesterday called for the UN Security Council to act after Iran resumed its nuclear research program. Iran pumps almost 5 percent of the world's oil or 3.9 million barrels a day.