Oil prices jump to highest levels since late October

Oil prices jumped by as much as 4 percent yesterday, to their highest levels since late October, as fallout from Russia’s showdown with Ukraine over natural gas supplies roiled an already jittery speculative market.

Prices touched $63.80 per barrel in New York Mercantile Exchange trading for oil to be delivered next month, the highest since Oct. 18, and up 5 percent since Friday.