Oil higher

New York : Oil prices rose more than one percent, with Brent climbing to a

four-year high, as U.S. sanctions

on Tehran squeezed Iranian crude

exports, tightening supply even as

other key exporters increased

production.

Brent crude futures rose $1 to settle at $82.72 a barrel.

The session high of $82.87 was the contract´s highest since Nov. 10, 2014. In the third quarter, Brent has gained about 4 percent.

U.S. West Texas Intermediate (WTI) crude futures rose $1.13 to settle at $73.25 a barrel.

The session high of $73.73 was the highest since July 11. The contract is up about 5 percent this month but down around 1 percent for the quarter.

A new round of U.S. sanctions on Iran, the No. 3 producer in the Organization of the Petroleum Exporting Countries (OPEC), kicks in on November. 4.