Oil costs superior Monday as traders continued to weigh tensions between Iran and the West, after Tehran introduced the seizure of a British-flagged oil tanker Friday.
West Texas Intermediate futures rose 0.3% to $55.95 a barrel on the New York Mercantile Change. Brent crude, the worldwide benchmark, was up 0.7% at $62.88 a barrel on London’s ICE Futures change, after earlier getting as excessive as $64.03.
Iranian forces captured Friday a British-flagged tanker within the Persian Gulf, a transfer broadly seen as retaliation for the U.Ok.’s seizure of an Iranian vessel off Gibraltar two weeks earlier. On Saturday, the U.Ok.-flagged tanker Stena Impero arrived within the Iranian port of Bandar Abbas with its 23 crew members nonetheless on board.