Oil prices have risen to their highest level this year after 15 British navy personnel were seized at gunpoint by Iranian forces in the Gulf.

The incident caused an immediate reaction in the markets, with a barrel of light, sweet crude rising to $62.65 - its highest mark since December.

In London, Brent crude rose to $63.68 a barrel, near a four-month high.

http://news.bbc.co.uk/1/hi/business/6485529.stm