- Continuing yesterday's big advance that bought crude over $60, oil prices extended gains overnight by 0.7% to $60.82/bbl amid the latest Persian Gulf tensions.
- Three Iranian vessels tried to block the passage of the BP (NYSE:BP)-operated British Heritage through the Straits of Hormuz, but backed off after the HMS Montrose - an escorting military ship - "pointed its guns" and "warned them over radio."
- The incident comes almost a week after British Royal Marines boarded an Iranian tanker, Grace 1, off Gibraltar and seized it on suspicion that it was breaking sanctions by transporting oil to Syria.
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