Oil Magnified

Oil Magnified

Oil prices have increased by more than two percent today due to concerns that the seizure of a British tank from Iran last week could cause a disruption in the Gulf. The North Sea oil interior was expensive for $1.41, or 2,26 percent in 63,88 [...]

Oil prices have increased by more than two percent today due to concerns that the seizure of a British tank from Iran last week could cause a disruption in the Gulf.

The North Sea oil interior was expensive for $1.41 or $2.26 percent for $63,88, while raw UTI rose to $1.13 or $2.03 per cent in 56,76 per barrel, Reuters agency.

Tensions on Iran “have probably contributed to already strong geopolitical risks,” said JBC Energy in a statement.

Iranian Revolutionary Guard announced on Friday that it seized a British oil tank in the Persian Gulf in response to the British seizure of Iranian tanks earlier this month.

This movement increased fears of possible transportation disruptions through the Strait of Hormuz, through which one fifth of all global oil supplies pass.

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