Oil is up more than 1.4%, as Iran is at the centre of a potential global landmine.
AP: Britain’s Foreign Office says that a racing yacht carrying five U.K. nationals has been stopped by Iranian naval vessels, and they are now in Iran. Government officials said Monday that the yacht may have strayed inadvertently into Iranian waters when it was stopped last Wednesday.
The Foreign Office added that all the crew members aboard the yacht are “safe and well,” according to Fox News.
Something similar happened in March 2007 when 15 British sailors were seized by Iran and held captive for nearly two weeks.
Zero Hedge has this chart showing what happened to oil prices: