Brent crude hit an eight-month high in Asian trade Monday after Iran halted its oil sales to France and Britain

Brent crude hit an eight-month high in Asian trade Monday after Iran halted its oil sales to France and Britain.  

Brent North Sea crude for April delivery was up $1.52 to $121.10 in the afternoon. New York's main contract, West Texas Intermediate light sweet crude for March delivery, rose $1.72 to $104.96 per barrel.
  
Iran's oil ministry on Sunday announced that it was halting its oil sales to France and Britain in retaliation for a phased European Union ban on its oil.

This was seen by analysts as a warning shot to several EU nations that are largely dependent on crude imports from the Islamic republic, including Italy, Spain and Greece.