Oil rose above $62 to a three-month high late Friday afternoon after Iran seized 15 British navy personnel, raising concerns about renewed tension between the oil producer and the West.
By Friday evening in London, a barrel of Brent North Sea crude for delivery in May leapt to $63.02 per barrel, from $60.30 the previous week.
In New York, a barrel of crude for delivery in May jumped to $62.15 per barrel from $57.11.
Iran captured 15 British Royal Navy personnel during a 'routine boarding operation' in Iraqi waters, Britain's Ministry of Defence said.
The Foreign Office said Iran's ambassador in London had been summoned and Britain was demanding their immediate safe release.
The West has been locked in a protracted dispute with Iran over its nuclear programme, which Iran insists is for peaceful purposes only.
Security Council members on Friday will review a revised draft of a UN resolution to impose new sanctions against Iran over its refusal to halt uranium enrichment, with a view to voting over the weekend.
Prices have also found support from reduced US petrol supplies ahead of peak summer driving demand.
Some analysts said these concerns were exaggerated given that refiners were expected to emerge from maintenance sooner than usual this year.
But petrol prices continued to hover near the seven-month high of $1.985 a gallon touched on Tuesday.
