Crude oil futures ended higher on Monday after U.S. Maritime Administration has issued a new advisory for commercial vessels transiting the Strait of Hormuz and Gulf of Oman following recent Iranian attempts to board and seize a U.S.-flagged tanker in the critical waterway. The move renewed concerns that U.S.-Iran tensions could disrupt oil supplies.
Benchmark crude oil futures for March delivery rose $0.86 or 1.35% to settle at $64.36 a barrel on the New York Mercantile Exchange. Brent crude for April delivery increased $0.99 or 1.45% to settle at $69.04 a barrel on London's Intercontinental Exchange.
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