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Oil prices rise amid geopolitical tensions

2019-07-23 04:54

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NEW YORK, July 22 (Xinhua) -- Oil prices rose on Monday as investors looked at possible supply disruptions in the Middle East.

Iran's Islamic Revolution Guards Corps (IRGC) on Friday seized British oil tanker Stena Impero in the Strait of Hormuz, an IRGC statement said.

The move led to concerns over potential supply disruptions in the Strait of Hormuz at the mouth of the Gulf.

The West Texas Intermediate for August delivery rose 0.59 U.S. dollar to settle at 56.22 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery gained 0.79 dollar to close at 63.26 dollars a barrel on the London ICE Futures Exchange.
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