Oil prices showed mixed results on Friday as investors monitored the gradual recovery of crude shipments through the Strait of Hormuz.
This follows a week of heightened tensions after military strikes between the United States and Iran.
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West Texas Intermediate futures for September delivery edged up nearly 0.1 percent to $83.68 per barrel, after dipping earlier in the session.
International benchmark Brent crude rose 0.35 percent to $89.34 a barrel.
Commonwealth Bank of Australia noted that the resumption of maritime traffic helped ease immediate market anxiety.
Earlier in the week, Brent had temporarily surged above $93 per barrel.
Data from the bank indicates that traffic through the strategic waterway has returned to approximately 30 to 35 percent of its pre-war volume.
Analysts suggest that if flows reach 50 to 60 percent of normal levels, global market conditions could shift back toward oversupply.
Market participants are also assessing proposed trade measures.
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President Donald Trump urged lawmakers to add tariffs on Iran to a bipartisan bill targeting Tehran and Russia.
Congress broadly supports sanctions on both nations, though trade tariffs remain a topic of debate.
"I'd like to see tariffs on Iran. It would make it much stronger," said President Donald Trump.
Trade records from the Office of the U. S.
Trade Representative show the United States imported $1.4 million in goods from Iran in 2025.
Data from Trading Economics indicates that works of art, collectors' pieces, and antiques accounted for 55 percent of those total imports.
The pending legislation seeks to impose economic sanctions on Russia for its war against Ukraine.
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It would also grant executive authority to apply targeted tariffs on goods from the top five buyers of Russian energy.
