Iran Stops Vessels in Strait of Hormuz, Driving Up Oil Prices

Oil prices rose more than 1% on Friday after Iran said it had stopped two vessels seeking to exit the Strait of Hormuz, underscoring concerns over global energy supplies.

The move follows a drone attack on ships in a Mediterranean Egyptian port earlier this week and comes as tensions between Iran and the US remain high.

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 island where Iran began attacking shipping.