UK Prime Minister Burnham says sanctions on Israel demonstrate the UK's leadership on the international stage.

JP Morgan CEO Dimon will meet UK Chancellor Xili on Wednesday, people familiar with the matter said, as the new government is considering an unexpected levy on bank profits in the upcoming budget. Dimon held an introductory call with Xili last month to discuss tax policy. Xili, in his first major speech since taking office, emphasized a focus on growth and fiscal discipline. Rising inflation expectations and uncertainty over government spending have pushed UK borrowing costs sharply higher in recent weeks, increasing market expectations of higher bank taxation.

At the close, NYMEX October light sweet crude gained $1.55 to $93.03/bbl, up 1.69%; ICE Brent November added $0.92 to $97.92/bbl, up 0.95%.