Crude Oil on 2month Peak

World crude oil prices advanced above $67 Thursday to two months high amid worries of supply, as Iran rejected a UN Security Council statement.

New York's main contract, light sweet crude for delivery in May, added 70 cents to close at $67.15 a barrel, the highest close since Feb. 1.

On London's ICE Futures exchange, the price of Brent North Sea crude for May delivery climbed 91 cents to 66.46 dollars a barrel. On the New York Mercantile Exchange, the heating oil rose 3.23 cents to 1.8843 dollars a gallon as gasoline futures rose 4.15 cents to 1.9957 dollars per gallon, the highest since Oct. 4. Natural gas futures rose 3.1 cents to 7.487 dollars per 1,000 cubic feet.

Traders are still concerned about the possibilities that Iran's oil exports would halt if the United Nations imposes Teheran an international sanction for its nuclear activities. Iran is OPEC's number-two producer behind Saudi Arabia, making four million bpd of oil and exporting 2.4 million bpd.

Iranian Foreign Minister Manouchehr Mottaki on Thursday criticized a UN Security Council statement on its nuclear program, saying it was "nothing short of injustice, double-standard and power politics."

The Energy Department reported Wednesday that U.S. commercial crude oil inventories rose 2.1 million barrels to 340.7 million In the week ended March 24. Gasoline supplies, however, plunged 5.4 million barrels last week to 216.2 million barrels. Analysts were predicting an decrease of only 1.3 million barrels. The plunging of gasoline supplies raised concerns about potential shortages ahead of the country's summer driving season.