Oil prices rose in early trading as concerns about supply disruptions in the Middle East intensified. West Texas Intermediate oil futures rose 0.85% to $79.62 a barrel in recent months. A senior US official said that the US struck several bridges in Iran on Thursday to cut off supply routes to a port city and naval base in the Strait of Hormuz. The strait is a key waterway through which one-fifth of the world's oil is transported. In response, Iran attacked America's infrastructure in the region and its Gulf allies.

Oil prices rose in early trading as concerns about supply disruptions in the Middle East intensified. West Texas Intermediate oil futures rose 0.85% to $79.62 a barrel in recent months. A senior US official said that the US struck several bridges in Iran on Thursday to cut off supply routes to a port city and naval base in the Strait of Hormuz. The strait is a key waterway through which one-fifth of the world's oil is transported. In response, Iran attacked America's infrastructure in the region and its Gulf allies.