CNBC4/24/2026Business
Oil Prices Rise as Middle East Conflict Continues, Strait of Hormuz Remains Shut
Brent crude climbs 0.63% to $105.73 as U.S. and Iran naval blockades keep vital shipping lane closed
Quick Look
- Oil prices rose Friday as the Middle East conflict continues to stoke energy worries, with both the U.S. and Iran seizing ships while the Strait of Hormuz remains shut.
- Brent crude climbed 0.63% to $105.73 per barrel, while WTI advanced 0.32% to $96.17.
- The IEA warned of the biggest energy security threat in history, with 13 million barrels per day of oil lost and about 20 million barrels shipped daily through the strait before the war.
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Oil prices rose Friday as the Middle East conflict continues to stoke energy worries, with both the U.S. and Iran seizing ships while the Strait of Hormuz remains shut. Brent crude climbed 0.63% to $105.73 per barrel, while WTI advanced 0.32% to $96.17. The IEA warned of the biggest energy security threat in history, with 13 million barrels per day of oil lost and about 20 million barrels shipped daily through the strait before the war.
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This article was originally published by CNBC.
