Rising diplomatic tension over Iran drove oil prices to their highest level so far this year today.
The price of oil returned to centre stage as New York rose 55 cents a barrel to $62.83, and London Brent jumped 71 cents to $63.88 a barrel.
Iran said yesterday it would not stop its nuclear programme, which it insists is only for peaceful purposes but which major powers fear could be used to develop nuclear weapons.
Iran's capture of British navy personnel last week has also heightened tensions.