Oil futures climbed as tensions escalated between the U.S. and Iran over control of the Strait of Hormuz. President Trump indicated no rush to resolve the conflict, while Iranian state media reported the seizure of an Emirati oil tanker. Fars news agency stated tankers must meet Iranian conditions for passage. The U.S. maintains its blockade of Iranian ports, with Centcom reporting it has redirected 64 commercial vessels, disabled 3, and boarded 2 to ensure compliance. WTI settled up 2.5% at $84.50 a barrel, while Brent rose 2.7% to $90.87 a barrel.

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Oil prices gained momentum following reports of increased geopolitical friction in the critical shipping corridor, with market participants closely watching developments.

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