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Oil prices head for second weekly rise as U.S. vows to turn up economic pressure on Iran
Oil prices are projected for a second straight weekly gain despite easing on Friday. This outlook stems from the fading hopes of a swift reopening of the Strait of Hormuz, further exacerbated by U.S. plans to increase economic pressure on Iran.
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Adjacent reporting
- Oil prices rise after the US says it would block Iranian ports starting Monday
- Oil rises as U.S.-Iran tensions keep traders focused on Strait of Hormuz risks
- Oil rises as U.S. continues to strike Tehran, reinstates blockade of Iranian ports
- Oil jumps after fresh U.S. strikes in Iran revive Strait of Hormuz disruption fears
- Oil prices under new wave of pressure amid lingering questions over a Strait of Hormuz reopening