Oil prices rose more than 2% on Monday on concerns that Iran’s seizure of a British tanker last week may lead to supply disruptions in the energy-rich Gulf. Brent crude futures climbed $1.41, or 2.26%, to $63.88 a barrel by 0840 GMT. West Texas Intermediate (WTI) crude futures were up $1.13, or 2.03%, at $56.76 a barrel. Last week, WTI fell over 7% and Brent lost more than 6%. Tensions surrounding Iran “have likely added to the already strong geopolitical risk premium”, JBC Energy said in a note. Iran’s Revolutionary Guards said on Friday they had captured a British-flagged oil tanker in the Gulf in response to Britain’s seizure of an Iranian tanker earlier this month. The move has increased the fear of potential supply disruptions […]