Crude oil prices climb Monday morning

New York -- Crude oil prices jumped 70 cents to more than $96 a barrel Monday morning after a week of price jumps pushed by supply-side concerns.

The price of crude rose more than $7 a barrel last week after oil ministers indicated output was adequate and on news that Venezuela would cut of supplies to Exxon Mobile Corp.

In early trading Monday, the price of crude hit $96.20 cents a barrel.

Heating oil prices gained 1.29 cents per gallon Monday morning to $2.6598 per gallon.

The price of reformulated gasoline blendstock also rose 1.29 cents per gallon to $2.5069 per gallon.

The price of natural gas prices rose 22.5 cents to $8.885 per million British thermal units.

The national average price for a gallon of unleaded increased Monday to $3.014 per gallon, up from $3.007 Sunday, the AAA Daily Fuel Gauge Report said.

Copyright 2008 by United Press International.