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Texas oil scoop in the image of Reuters.
TOKYO (Reuters) – Oil prices rose on Monday in the midst of heightened tensions in the Middle East after the Iranian army seized a British oil tanker a few days ago.
London Brent crude rose 51 cents, or 0.8%, to $ 62.98 a barrel and $ 63.47 a barrel at 00:42 GMT.
The West Texas Mercantile Exchange's US crude futures price rose 15 cents, or 0.3%, to $ 55.78.
US crude dropped more than 7% and Brent more than 6% last week.
Iran's Revolutionary Guards reported seizing a British flag-bearer in the Gulf, after British forces seized an Iranian tanker earlier in July, intensifying tension on the transportation route needed to transport crude oil. .
Britain is considering measures to address the airline crisis and appears to have few options while a record has shown that the Iranian military had ignored a British warship during his landing aboard the carrier three days ago.
The office of British Prime Minister Teresa Mae announced that she would chair a meeting of the government's emergency intervention committee Monday morning to discuss the crisis.
Prepared by Moaz Abdul Aziz for the Arab Bulletin – Edit Mohammed Al Yamani
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