Oil rises over $1 with no sign of Iran conflict ending

Oil prices climbed Friday as Iran conflict resolution efforts stalled, with Tehran blocking the Strait of Hormuz and the U.S. Navy restricting Iranian crude exports. Brent crude futures rose to $111.59 a barrel, and WTI futures reached $105.46, marking four consecutive months of gains. Tensions escalated with threats of "long and painful strikes" on U.S. positions if attacks resume.