Global oil prices have jumped after US President Donald Trump said its navy had intercepted and seized an Iran-flagged cargo ship.

The Brent crude benchmark oil price jumped over 6% to around $96 (£71) a barrel, reversing the slump on Friday.

Brent crude futures advanced $4.37, or 4.8%, to $94.75 a barrel by 1148 GMT and U.S. West Texas Intermediate was up $4.76, or 5.7%, at $88.61.

DID