LONDON, July 14 (Reuters) - Investors increased their bets on the Bank of England raising interest rates in the coming months after oil prices hit their highest levels in four weeks due to the escalating tensions in the Strait of Hormuz.
UK rate futures on Tuesday pointed to around 50 basis points of BoE policy tightening by December - equivalent to two quarter-point rate hikes - up from about 40 bps on Monday.
(Writing by William Schomberg; Editing by Sarah Young)