The attacks across the southern part of Iran come as they and the U.S. insist the Strait of Hormuz must be open and free to ships to transit. Iran insists the strait, through which about a fifth of all oil and natural gas passes, must now be under its sole control and that vessels should begin to pay fees to Tehran — even though the world for decades has considered it an international waterway.
Oil prices yo-yoed again on Friday as global oil supplies remained under pressure due to a limited numbers of vessels able to cross the Strait of Hormuz.
Brent crude, the international standard, gained 78 cents to $77.08 per barrel. It was trading near $72 a barrel before the war began in late February.
Benchmark U.S. crude added 65 cents to $72.73 a barrel.
Iran’s grip on the strait during the conflict led to a global energy crisis, though oil prices have sharply dropped since wartime highs of $120 a barrel.
The International Energy Agency on Friday released its monthly report projecting that 2026 will end with a 1 million barrel-a-day decline in demand, the first annual drop in demand since the COVID pandemic six years ago.
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