Britain's Standoff With Iran Rockets Oil Prices

Britain's Standoff With Iran Rockets Oil Prices

Tensions over the fate of 15 British sailors and marines captured by Iran in the Persian Gulf last week helped drive crude oil prices to a six-month high yesterday, threatening to boost gasoline prices just two months before the start of the summer driving season.

Traders sent the price of crude oil up by 3 percent, to $66.03 a barrel in New York yesterday, after Iran put off a previously announced plan to release a British woman being held and Prime Minister Tony Blair said Britain would not negotiate.

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