Oil price rises after Iran stops ships

Oil prices rose on Friday after Iran said it stopped two vessels attempting to exit the Strait of Hormuz, raising concerns over global energy supplies. The incident follows a drone attack on ships in an Egyptian port earlier this week. Iran claimed four other tankers turned back after its forces intervened. The Strait of Hormuz is a critical chokepoint for oil shipments, handling about a fifth of global consumption. The disruption threatens to tighten supply and increase volatility in energy markets. Traders are watching for further escalation.