Oil prices surged to their highest level in six months on global commodity markets after the US said it would take a harder line against countries that breach its oil embargo on Iran.
The move helped push up the price of Brent crude, the international benchmark, which climbed above $74 a barrel for the first time in six months this week.
* U.S. aims to cut Iran oil exports to zero
* Market concerned about reduced supply, oil price at 6-month high
* Iran threatens to close key waterway for oil tankers
* White House says working with Saudi Arabia, UAE to ensure supply (Updates with comments from buyers)
Geng Shuang, a Chinese Foreign Ministry spokesman, said at a daily news briefing in Beijing on Monday that it opposed unilateral U.S. sanctions against Iran and that China’s bilateral cooperation with Iran was in accordance with the law.