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Diesel prices are rising again just as farmers prepare for the harvest and freight transportation picks up ahead of the holiday shopping season.

Washington and Tehran are considering next steps after negotiations fell apart, while the UAE has suspended trade with Iran.

A ship transiting the Strait of Hormuz has come under attack, resulting in one casualty among its crew.

The U.S.-Iran deal was supposed to open the Strait of Hormuz while they negotiated a final deal on Tehran's nuclear program within 60 days.

Peter Thiel's hedge fund disclosed a $76 million stake in Argentine oil producer Vista Energy, sending its shares higher in premarket trading.

Shipping traffic in the Strait of Hormuz sank to a new low as a ceasefire between the U.S. and Iran is set to expire on Monday with no deal in sight.

The rapid drawdown of the U.S. Strategic Petroleum Reserve could damage the caverns that store the oil, experts warn.

Iran's deputy foreign minister says Hormuz "will remain Iranian" after Trump's claim that the waterway would soon become U.S. territory.

Oil prices rose early Friday after the U.S. said its naval blockade of Iranian ports could continue "indefinitely".

"It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz," Bessent said.