OIL PRICES ROSE ON MONDAY AFTER IRAN WARNED WASHINGTON THAT A "WRONG MOVE" IN THE STANDOFF OVER TEHRAN'S NUCLEAR AMBITIONS WOULD ENDANGER FLOWS FROM THE GULF, WHICH PUMPS NEARLY A QUARTER OF THE WORLD'S CRUDE, ACCORDING TO REUTERS. "THE THREAT, WHILST REMOTE, WOULD BE SERIOUS IN THE CONTEXT OF GLOBAL OIL MARKETS OPERATING WITH LITTLE MORE THAN 2 MILLION BARRELS PER DAY OF SPARE CAPACITY," A CITIGROUP REPORT SAID. U.S. CRUDE SETTLED 27 CENTS HIGHER AT $72.60 A BARREL AFTER JUMPING TO $73.84 EARLIER IN THE DAY. LONDON BRENT ROSE 34 CENTS TO $71.37. U.S. OIL FUTURES BRIEFLY TRADED LOWER IN LATE ACTIVITY AFTER FEDERAL RESERVE CHAIRMAN BEN BERNANKE SAID THE FED NEEDED TO BE VIGILANT TO ENSURE INFLATION STAYS UNDER CONTROL EVEN AS THE ECONOMY STARTS TO SHOW A SLOWER PACE OF GROWTH.
