Oil prices hit six-month high as Iran tensions escalate

Oil prices hit a six-month high Friday amid fears of renewed U.S. strikes against Iran and escalating Middle East attacks, raising concerns about global supply disruptions. Brent crude rose 2.9% to $116.46 per barrel, while West Texas Intermediate climbed 3.7% to $103.12, marking a third consecutive weekly gain. The surge follows attacks on tankers and shipping routes as the Iran war nears its eighth month. Iran's military readiness for "asymmetric warfare" and Houthi attacks on Saudi Arabia have heightened worries about shipments through the Strait of Hormuz, where at least 18 ships were hit in two weeks. U.S. gasoline prices remain elevated at about $4.29 per gallon.