Oil Futures Gained on Concerns over Iran Nuclear Program

Crude prices traded higher Friday on renewed concerns after Israel raised new concerns about Iran's nuclear program.

Israeli Deputy Prime Minister Shaul Mofaz, a hawkish former defense minister, said that Iran's nuclear program was poised to make a "major breakthrough" and that his country must be "prepared for every option."

Light, sweet crude jumped as high as $128.60 a barrel in the early session on the New York Mercantile Exchange.