Oil rises on Middle East Gulf tensions; Libya field resumes output - Reuters:
Oil prices rose on Monday on concerns that Iran’s seizure of a British tanker last week may lead to supply disruptions in the Middle East Gulf, although gains were capped as Libya resumed output at its largest oil field.
Brent crude futures climbed 88 cents, or 1.4%, to $63.35 a barrel by 0706 GMT.
West Texas Intermediate (WTI) crude futures were up 58 cents, or 1%, at $56.21 a barrel.
WTI fell over 7% and Brent fell more than 6% last week.
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