Oil markets rose today after the Iran’s oil ministry halted crude exports to French and British companies.

US crude gained $1.97 to $105.21 a barrel while Brent crude increased by $1.22 at $120.80, reports Bloomberg.

A five-member team of inspectors from the UN International Atomic Energy Agency arrived in Tehran for talks on its disputed nuclear programme.

The European Union had imposed sanctions last month to boycott oil from Middle East nation from 1 July 2012.