The U.S. military confirmed a retaliatory strike on Iran, pushing oil prices higher in after-hours trading on Friday.
Oil futures had settled lower earlier in the session, posting a third-straight weekly loss.
The strike marks a significant escalation in tensions between the two nations.
Traders reacted quickly to the news, driving crude prices upward in electronic trading.
The move cuts off a recent downward trend for oil, which had been pressured by demand concerns.
Analysts now warn that any disruption in the Strait of Hormuz could send prices soaring again.
Traffic through the vital waterway has remained sluggish, adding to supply worries.
The region accounts for about a fifth of the world’s oil shipments.
Markets will watch closely for any further military developments over the weekend.
The broader economic impact remains uncertain, though energy costs could rise for consumers.
