Oil Rises to Near $100 a Barrel

Oil prices rose to near $100 a barrel in early trading Monday, the Associated Press reported.

Light, sweet crude oil futures gained 35 cents on the New York Mercantile Exchange to $99.16 a barrel in electronic trading, AP said. Futures hit as high as $99.70 a barrel earlier.

On Friday, oil rose 58 cents to close at $98.81 a barrel, AP reported.

The price increases were due in part to Turkey’s incursions into Northern Iraq, AP said. Turkey serves as an oil and gas transportation hub, and Iraq is a major crude supplier to Europe.