Iran Blockade Drives Oil Prices Up Amid US Economic Threats

Oil prices rose on Friday after US officials signaled that they would maintain their blockade of Iranian ports indefinitely, potentially disrupting global supplies.

Brent crude and US benchmark West Texas Intermediate (WTI) both increased by around 1% to $88 and $82 per barrel, respectively, as of 6.30 a.m. GMT.

The U.S. threatened to keep the blockade in place for as long as needed and warned of unprecedented economic measures against Tehran, raising concerns over further disruptions to global supplies.

U.S. Defense Secretary Pete Hegseth said Washington could maintain its blockade by rotating ships in and out of the region, while Treasury Secretary Scott Bessent signaled tougher economic pressure on Tehran.