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British Embassy Tehran

November 29, 2011 by staff 

British Embassy Tehran, World oil prices surged Tuesday as traders reacted to news that protesters had stormed Britain’s embassy in Tehran. New York’s main contract, light sweet crude for delivery in January leapt $1.41 to $99.62 a barrel.

Brent North Sea crude for January rallied $1.93 to $110.93 in late afternoon London deals.

“Oil prices have jumped sharply after this afternoon’s news from Iran of the British embassy being stormed … while the jump in US consumer confidence also helped,” said CMC Marketsanlyst Michael Hewson.

Protesters stormed Britain’s embassy and another diplomatic compound in Tehran on Tuesday, sparking international alarm and dramatically raising tensions with the West over Iran’s nuclear programme.

Protesters remained in both properties, trashing offices, stealing documents and defying police efforts to remove them, according to an AFP journalist and Iranian media at the scene.

Six British diplomats sequestered for more than two hours inside a building in Britain’s diplomatic compound in the north of the capital were finally able to get through a crowd of hundreds of protesters after intervention from diplomatic police, the Fars news agency reported.

Washington condemned the storming of the British embassy in the “strongest terms” and called on Tehran to condemn the incident and prosecute those responsible.

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