Oil prices rise amid Middle East tensions

Geopolitical tensions helped drive demand and push prices up.

The FTSE 100 ended the day up (Nick Ansell/PA)

By Ravender Sembhy, Press Association City Editor

Oil was in focus on Tuesday after prices rose sharply amid fears of supply disruptions in the Middle East, as the US considers re-imposing sanctions on Iran.

Geopolitical tensions helped drive demand and push the price of Brent Crude and West Texas Intermediate over 2% to 67.4 US dollars and 63.5 US dollars respectively, levels last seen in March.