Oil Prices Rise as U.S. and Iran Both Claim Control of Key Waterway

Oil futures ended the week with gains, as tensions in the Strait of Hormuz continued without a clear resolution. Both the United States and Iran have stated that they control the strategic waterway, a vital passage for global oil shipments. The standoff has kept traders on edge, pushing prices higher amid uncertainty over supply routes. No new developments have been reported, but the ongoing dispute remains the main driver of market movement.