Oil prices reach highest point since December

The price of oil has risen to its highest level since December.

Brent crude has risen to $65.80 on a number of bullish factors.

The tensions in the Middle East surrounding the continuing detention of 15 British Navy personnel by Iran have escalated and with concerns over the draw in US gasoline stocks, traders have marked up prices.

Compounding bullish sentiment, French strikers at Fos-Lavera, a major oil hub, have voted for a fortnight's stoppage, forcing French refiners to cut back production.

Additionally, AccuWeather, the leading US private forecaster, predicted severe weather systems in the Gulf during the hurricane season.