New York's main contract, light sweet crude for April, soared almost $2 a barrel, closing above $109

photos >> 2012 >> 02 >> 24

Iran Middle East United States New York Business Commodity Markets Financial Markets Oil Prices

New York's main contract, light sweet crude for April, soared almost $2 a barrel, closing above $109

Jeff Pachoud

World oil prices surged again to new nine-month highs as traders fretted about the impact of heightened geopolitical tensions over Iran on global crude oil supplies.