Oil jumps as Saudi king's death feeds market uncertainty

London

OIL prices rose on Friday after the death of Saudi Arabia's King Abdullah added more uncertainty to an oil market that has more than halved over the last six months.

King Abdullah bin Abdulaziz died early on Friday and his brother Salman became king of the world's top oil exporter. King Salman named his half-brother Muqrin - second-in-line to the throne - as heir, moving to forestall any succession crisis at a moment when Saudi Arabia faces unprecedented turmoil on its borders and in oil markets.