Iran Blocks Vessels from Exiting Strait of Hormuz, Oil Prices Rise

Oil prices rose on Friday after Iran said it had stopped two vessels seeking to exit the Strait of Hormuz, underscoring concerns over global energy supplies.

Iran's army said it targeted U.S. military facilities in Kuwait and Bahrain on Friday in response to the U.S. attacks, citing an attack on a house on Qeshm, an island near the Strait of Hormuz where Iran began attacking shipping.

The Persian Gulf Strait Authority said that as soon as stability and calm was restored, all requests would be reviewed and transit permits would be issued gradually.