Oil rose in New York after Iran’s oil ministry website reported that the nation halted crude exports to French and British companies.

Crude for March delivery gained as much as $1.97, or 1.9 percent, to $105.21 a barrel in electronic trading on the New York Mercantile Exchnge and was at $105.08 at 7:21 a.m. Singapore time. Brent oil for April settlement was up $1.22, or 1 percent, at $120.80 on the London-based ICE Futures Europe exchange.