NEW YORK (AP) The price of oil rose above $95 a barrel Monday after negotiations in Geneva to curb Iran's nuclear program were stalled.
Benchmark U.S. crude for December delivery rose 54 cents to $95.14 a barrel on the New York Mercantile Exchange. Brent crude, the international benchmark, gained$1.28 to $106.40 a barrel on the ICE Exchange in London.
Six key powers are considering a gradual rollback of sanctions that have crippled Iran's economy. In exchange, they demand initial curbs on Iran's nuclear program.
The U.S.-led negotiations, however, failed to yield a deal over the weekend. This eased concerns of an influx of Iranian oil into world markets at a time of already abundant supplies.
