Oil rise on Friday as efforts to resolve the Iran war remained at an impasse, with Tehran still blocking the Strait of Hormuz and the US Navy blocking exports of Iranian crude.
Brent crude futures for July were up $1.04, or 0.94%, to $111.44 per barrel, while West Texas Intermediate futures had risen 41 cents, or 0.39%, to $105.48 per barrel.
Both benchmarks have posted gains across four straight months, with Brent’s June contract, which expired on Thursday, hitting $126.41 a barrel, the highest since March 2022.
Oil prices…
