U.S. says seventh night of Iran strikes is complete as oil jumps

The U.S. military said it finished a seventh consecutive night of strikes on Iran, extending a conflict that is now hitting two things markets watch closely: oil supply routes and Gulf security. For everyday investors, the immediate market signal was in crude prices, which rose Friday as shipping through the Strait of Hormuz faced fresh disruption.

U.S. Central Command said the strikes ended at 9:30 p.m. Eastern time on Friday. In a post on X, Centcom said U.S. forces targeted Iranian “military logistics infrastructure, underground weapons storage, and maritime capabilities.”

Centcom also said it is enforcing a naval blockade against Iranian ports. A naval blockade is a military effort to control or stop ships from entering or leaving certain ports, which can slow trade and raise concern about supply chains.

In a separate statement, Centcom said that during the first three days of renewed enforcement, U.S. forces redirected four commercial vessels, disabled one and boarded one to check compliance.

Shipping pressure builds around Hormuz

Iran’s Revolutionary Guard Corps gave a different account of events at sea. Iran’s IRNA News Agency quoted the IRGC Navy Command as saying the guard blocked four vessels early Saturday as they tried to move through the Strait of Hormuz under U.S. protection. The IRGC said a coordinated missile and drone operation stopped and immobilized all four vessels.

The Strait of Hormuz is a narrow waterway between Iran and Oman that connects the Persian Gulf with global shipping lanes. It is strategically important because energy cargoes move through it, so threats to traffic there can feed directly into oil prices.

The renewed fighting comes after a U.S.-Iran interim truce signed last month. That agreement was meant to reopen the Strait of Hormuz and halt a conflict that began with U.S. and Israeli strikes on Iran on Feb. 28.

Kuwait and Bahrain report attacks

Kuwait said its air defenses were responding to hostile drone threats. The Kuwait News Agency said an Iranian attack on a power and water distillation station caused a fire but no casualties. It was the second strike on Kuwait’s water facilities in two days, according to the report.

Kuwait relies heavily on seawater desalination, the process of turning seawater into drinking water. A cited scientific study said almost 90% of Kuwait’s water demand is met through desalination plants, which makes attacks on that infrastructure especially sensitive.

Kuwait Airways said it rescheduled most of its flights, citing hostile missile and drone attacks after what it described as Iranian aggression. Bahrain’s government said its air defenses intercepted several Iranian projectiles early Saturday and that sirens were used to alert residents.

Iran said Friday it had targeted U.S. military forces in Syria and Bahrain.

Oil reacts as conflict widens

President Donald Trump has argued that the U.S. campaign against Iran is succeeding. In a Thursday primetime address, he said, “We are likewise winning big in Iran, and you will see the fruits of that labor very, very shortly.” Trump had previously threatened strikes on Iranian bridges and power plants next week if Tehran did not return to negotiations.

Ian Lesser, a distinguished fellow at the Washington-based think tank GMF, told CNBC there is a risk the U.S. and Iran could become stuck in a prolonged conflict. He said the two countries had already spent decades in what he described as a cold and sometimes hot war, and said the current situation reflects both misjudgment by the administration and a broader U.S. pattern of strong military capacity paired with strategic errors.

Oil prices rose sharply Friday. Brent crude futures for September delivery climbed 4.6% to $88.10 a barrel, while U.S. West Texas Intermediate futures for August delivery gained 4.5% to settle at $82.49, according to CNBC. Both benchmarks were at their highest levels since mid-June.

For the week, Brent and WTI each rose about 16%. CNBC reported Brent was on pace for a third straight weekly gain, while WTI was set for its second.

This story draws on original reporting from CNBC.