US Blocks Iran, Oil Prices Hold Steady Amid War Fears

Oil prices steadied on Friday after the US threatened to maintain a naval blockade of Iran indefinitely, reviving crude supply concerns.

The threat comes as Iran continues to limit traffic through the Strait of Hormuz, which carried 20% of the world's oil before the conflict.

Brent futures rose 9 cents, or 0.1%, to $87.16 a barrel by 0130 GMT, while US West Texas Intermediate (WTI) crude futures rose 4 cents to $81.29 a barrel.

The U.S. Treasury Secretary Scott Bessent said the US would apply measures like never seen in the history of economic isolation on a country, sparking concerns about a longer war constraining supply.