Oil prices near three-week high on Hormuz shipping uncertainty

Oil prices climbed to their highest level in nearly three weeks on Friday amid continued uncertainty over shipping traffic through the Strait of Hormuz. Brent crude gained 0.66 percent to $91.62 a barrel, the strongest level since July 30, while West Texas Intermediate rose 0.71 percent to $85.54. A slowdown in vessel traffic through the strait has stoked geopolitical concerns and added a risk premium to crude prices. Analysts said concerns over the flow of shipments through the chokepoint have continued to support the market. The Strait of Hormuz is a vital route for global energy supplies, linking major Gulf producers to international markets. Traders are watching shipping data closely for further indications of disruption, though no specific incident was confirmed in the latest price moves.