Oil price rises after Iran says it stops ships in Hormuz

Oil prices rose on Friday after Iran said it stopped two vessels trying to exit the Strait of Hormuz, reviving worries about global energy supplies following a drone attack on ships in a Mediterranean Egyptian port earlier this week. Iran also claimed four other tankers turned back after intervention, though its reports could not be independently verified. Shipping data showed two large oil tankers loaded from the Gulf passing through the strait, with another two commodities vessels also transiting, as tracked by Kpler. The Strait of Hormuz normally carries about one-fifth of the world’s energy shipments and has faced widespread disruptions since the start of the five-month conflict. Brent was on track to rise more than 1% for the day, with Reuters polling expecting further gains in 2025.