LONDON, Feb 14: The price of oil climbed here on Thursday in response to a warning from US President George W. Bush that he would keep “all options available” for dealing with oil producer Iraq.

Brent North Sea crude for April delivery rose to $21.25 a barrel from $20.92 on Wednesday evening.

In New York, the light sweet crude March contract gained 45 cents to $21.18.

The possibility that other oil producing Arab countries might also withhold supplies in support of Iraq also lurks at the back of traders’ minds, though most analysts believe the chances of such a move to be remote.

But the recent reference by Bush to Iran as part of “an axis of evil” has increased such concerns. Iran is a major oil producer, the second largest in the Organization of Petroleum Exporting Countries.—AFP