Crude oil rose after the UN Security Council adopted a US resolution demanding Iraqi compliance with UN weapons inspections.
US President George W. Bush said the resolution put Iraq on "fair notice" that it must disarm. Iraqi leader Saddam Hussein "must submit" to unfettered inspections for chemical, biological and nuclear weapons, Bush said at the White House after the vote.
Oil prices have risen 30 percent this year partly on concern that a war in Iraq would disrupt exports from the Persian Gulf.
"It's another step toward the ultimate solution of the Iraq issue," said John Kilduff, senior vice president of energy risk management at Fimat USA Inc in New York. "Iraq will have to disarm now or face a US attack."
Crude oil for December delivery rose US$0.40, or 1.6 percent, to US$25.78 a barrel on the New York Mercantile Exchange. Prices fell 5 percent this week.
About a quarter of the world's oil is pumped in the Persian Gulf region. Iraq, which has the world's second-biggest proven oil reserves, produces about 2.5 percent of global supply.
In London, the December Brent crude-oil futures contract rose US$0.10, or 0.4 percent, at US$23.58 a barrel on the International Petroleum Exchange.
The resolution passed after its wording was changed to assure council members that the US didn't have the automatic right to attack Iraq .
The potential for a disruption in exports from Iraq makes it difficult for the other 10 OPEC members to plan their production targets, analysts said.
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