DUBAI, United Arab Emirates -- Oil prices rose above $109 a barrel Monday as Hurricane Ike took aim at the Gulf of Mexico, delaying efforts to bring oil and gas production back online, and Iran's oil minister said he thinks there is too much crude on the market, according to The Associated Press.

The week's early gains came as OPEC oil ministers gathered in Vienna, Austria, to decide whether to trim production in a bid to stall oil's recent slide, which has seen prices tumble more than 25 percent from their July high.