Oil prices ‌rose on Friday as efforts to resolve the Iran war remained at an impasse, with Tehran still blocking the Strait of Hormuz and the U.S. Navy blocking exports of Iranian crude.

Iran's supreme leader declared Thursday that the United States had suffered a shameful defeat, defiantly rejecting a warning from President Donald Trump that an economically-punishing US naval blockad

Global oil prices jumped to a four-year high of more than $126 a barrel on ​Thursday on concerns that the U.S.-Iran war could worsen and lead to a protracted Middle East supply disruption that could hurt global economic growth,

Brent crude surged to its highest levels since early 2022, before paring gains, as the Middle East conflict chokes supplies.

Oil prices rose Monday as talks to end the Iran war appeared to be at a standstill and the crucial Strait of Hormuz no nearer being reopened.

Oil prices extended gains on Thursday on concerns supply from the key Middle East producing region will remain bottled up for longer as talks to end ​the U.S.-Israeli war against Iran have deadlocked.

Crude prices surge amid a report from Axios that U.S. President Donald Trump is set to receive a briefing today on new plans for potential military action in Iran, with Brent futures hitting a four-year high.

Oil prices shot higher Wednesday on concerns of an extended blockade of the Strait of Hormuz, while Wall Street stocks moved indecisively after a divided Federal Reserve kept interest rates