Oil prices held firm on Friday after the United States carried out fresh strikes on Iranian-flagged oil tankers in the Gulf of Oman, deepening tensions around the Strait of Hormuz even as both countries continued talks aimed at ending the conflict.
As at the time of writing 09:28 (WAT), Brent crude rose 1.23% to $101.30 per barrel, while West Texas Intermediate (WTI) gained 0.64% to trade at $95.42 per barrel.
The latest escalation came after U.S. Central Command confirmed that American forces targeted two empty Iranian-flagged tankers accused of attempting to breach a naval blockade around Iranian ports. According to the U.S. military, fighter jets fired precision munitions into the vessels’ smokestacks, disabling them without causing oil spills.
American officials said a third Iranian-linked vessel had already been stopped earlier in the week, signalling a broader clampdown on Tehran’s shipping operations as pressure mounts on Iran’s export network.
Despite the military action, Washington insists diplomatic talks with Tehran are still ongoing. U.S. Secretary of State Marco Rubio said negotiations aimed at halting the war and restarting nuclear discussions were still active, adding that the White House expected a response from Iran soon.
The renewed confrontation comes at a sensitive time for global energy markets. The Strait of Hormuz remains one of the world’s most important oil transit routes, handling a major share of global seaborne crude exports. Since fighting intensified earlier this year, movement through the corridor has faced repeated disruptions.
Analysts say the latest strikes show the conflict is no longer limited to political statements and military warnings. Attention has now shifted directly to shipping routes, tanker movements and supply chains, with both sides targeting the economic pressure points tied to oil trade.
For oil traders and importing countries, the growing fear is that a prolonged disruption around Hormuz could tighten global crude supply further, increase freight costs and trigger another round of fuel price pressure across international markets.