Oil Rises Amid Escalating Gulf Tensions

Oil prices increased on Friday as the United States and Iran intensified their attacks in the Gulf region, disrupting crude flows via the Strait of Hormuz. Brent crude futures climbed $1.05 (1.25%) to $85.28 per barrel. US West Texas Intermediate (WTI) crude futures gained $1.03 (1.3%) to $79.98 per barrel.