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Oil prices turned around and rose Thursday, hitting their session highs in late-day trading after Iran attacked a vessel on the Strait of Hormuz.
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;Resize=(620)) The UN International Maritime Organization (IMO) paused its program to shepherd ships and seafarers through the Strait of ?Hormuz on Thursday after a cargo ship reported a suspected attack, reigniting fears over a preliminary deal to end the Iran war.
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A number of oil tankers sailed out of the Strait of Hormuz on Thursday along a United Nations-recommended route, defying threats by Iran that any ship not following its approved route "will be dealt with accordingly."The passage of the Liberian-flagged vessel — perhaps aptly named the Stoic Warrior — came amid continued uncertainty about the future of the crucial waterway.
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The jump in oil exports comes as the threat level for ships crossing Hormuz has been downgraded to "moderate."
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