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The Guardian - UK
The Guardian - UK
Business
Lauren Almeida

Oil prices rise and markets fall after US seizure of ship hits Iran peace deal hopes

Oil Iran United States Hormuz Donald Trump United Kingdom
The sun rises behind tankers anchored in the strait of Hormuz
The sun rises behind oil tankers anchored in the strait of Hormuz. Photograph: Asghar Besharati/AP

Oil prices rose sharply and European stock markets fell on Monday after the US seizure of an Iranian vessel dented hopes for a peace deal.

Brent crude, the international benchmark for oil prices, rose by 5% to about $95 a barrel.

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