Brent rose 1.7% to $106.88/bbl and WTI up 1.4% to $97.21/bbl, set for biggest weekly gain since early March.
Prices surged as the Strait of Hormuz stayed largely shut, with Iran seizing ships and the U.S. Navy capturing Iranian vessels.
President Donald Trump said he will not rush a deal and ordered Navy to “shoot and kill” Iranian vessels mining the strait.
Israel and Lebanon agreed to a three‑week ceasefire extension after Washington talks, offering little relief to markets.