Oil rises above $106 per barrel as US, Iran deadlocked in Strait of Hormuz
Al Jazeera·4h ago·Fear
What Happened
Oil prices jumped above $106 per barrel as US-Iran tensions intensified over the Strait of Hormuz following vessel seizures. Brent crude rose nearly five percent Friday. Shipping halted as Iran demands passage approval rights while the US maintains a naval blockade. President Trump ordered the Navy to destroy Iranian boats laying mines and expanded blockade controls.
Key Entities
United StatesIranStrait of HormuzBrent crudeDonald TrumpS&P 500Nasdaq Composite