Oil rises after US Navy destroys Iranian drone
Oil prices rose more than 1% on Friday after the U.S. Navy destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows, again raising tensions in the Middle East.
Brent crude futures were up 82 cents, or 1.3%, at $62.75 by 0100 GMT. They closed down 2.7% on Thursday, falling for a fourth day.
West Texas Intermediate crude futures firmed 61 cents, or 1.1%, at 55.91. They fell 2.6% in the previous session.
The United States said on Thursday that a U.S. Navy ship had “destroyed” an Iranian drone in the Strait of Hormuz after the aircraft threatened the vessel, but Iran said it had no information about losing a drone.
