One analyst described Friday's incident as "potentially explosive" as far as oil was concerned.
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Oil Prices On Highest Level of the Year
Oil prices have risen to their highest level this year
Oil prices have risen to their highest level this year after 15 British navy personnel were seized by Iranian forces in the Gulf.
US light, sweet crude rose immediately to $62.65 - its highest mark since December.
In London, Brent crude rose to $63.68 a barrel, near a four-month high.
One analyst described Friday's incident as "potentially explosive" as far as oil was concerned.
One analyst described Friday's incident as "potentially explosive" as far as oil was concerned.
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