Oil prices rise as U.S. warns it could keep Iran naval blockade indefinitely
Oil climbed on Friday and was positioned to record weekly gains after U.S. officials said a naval blockade of Iran could be maintained indefinitely, stoking concerns about disruptions to Middle East supplies. Brent and U.S. crude rose modestly while traffic through the Strait of Hormuz fell below the month's average. At the same time, forecasts fro…