Oil at nine-month high after Iran cut

Oil prices jumped to nearly 105 dollars a barrel – a nine-month high – in Asia today, after Iran said it halted crude exports to Britain and France in a dispute over its nuclear programme.

Benchmark crude was up 1.75 to 104.99 dollars a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. Earlier in the day it rose to 105.21, the highest since May. The contract rose 93 cents to settle at 103.24 a barrel in New York on Friday.