Oil hits nine-month high
Oil futures spiked market after Iran threatened to halt oil exports to other European Union countries a day after it cut sales to UK and French companies.
Oil hit a nine-month high on the London market after Iran threatened to halt oil exports to other European Union countries a day after it cut sales to UK and French companies.
US markets are closed for the President's holiday.
The front-month April Brent contract on the ICE futures exchange was up 65USc, or 0.5%, at $US120.23 a barrel. The US crude front-month March contract was trading up $US1.88, or 1.8%, at $US105.48 a barrel in electronic trade.
World sharemarkets were stronger after Wall Street closed at a 52-week high on Friday.
European stocks pushed higher after China's central bank eased policy over the weekend, which is expected to heighten demand for commodities.
Greece is expected to finally receive its second bailout after a meeting of European finance leaders.
The benchmark Stoxx Europe 600 Index finished 0.8% higher at 268.16. London's FTSE 100 rose 0.7% to 5945.25, Frankfurt's DAX gained 1.5% to 6948.25 and Paris' CAC-40 was 1.0% higher at 3472.54.
In Asia, Japanese shares ended higher than their six-month highs, while Hong Kong's benchmark stock index finished lower after hitting a level it hasn't seen since early August.
The Nikkei Stock Average jumped 1.1% to 9485.09 in Tokyo and Hong Kong's Hang Seng Index dropped 0.3% to 21,424.79.
China's Shanghai Composite Index advanced 0.3%, Australia's S&P/ASX 200 index jumped 1.4%, Korea's Kospi inched up 0.1% and Taiwan's Taiex added 0.8%.
Currencies: US dollar falls
The US dollar fell to a near two-week low against the euro on hopes European finance ministers would agree on conditions for another loan for Greece.
The euro fetched $US1.3243, up from $US1.3156 late on Friday. The euro also gained against the yen.
Nevil Gibson
Tue, 21 Feb 2012
Tue, 21 Feb 2012
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Oil hits nine-month high
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