Crude futures climbed near $37 per barrel last night to close at their highest level in over a week.
The increase came after a weekend attack on Iraq's oil infrastructure raised concerns that exports of the commodity will face further threats and add to global supply concerns.
On Saturday, suicide boats attacked Iraqi oil facilities in the Persian Gulf, killing three Americans and costing Iraq $40 million in revenues. The facilities resumed full exports yesterday, however.
Against this backdrop, June crude traded as high as $37.15 per barrel on the New York Mercantile Exchange, before closing at $36.97, up 51 cents. The contract has not closed that close to $37 since April 16th.
May heating oil also climbed, up 1.58 cents to close at 93.27 cents per gallon.
Unleaded gasoline for May delivery tacked on 1.76 cents to close at $1.1822 per gallon.
