Oil Prices Face Volatility

Oil prices bounced around on Friday, as investors absorbed a flurry of headlines related to the fragile U.S.-Iran peace deal, including one that indicated the Strait of Hormuz was again closed. That report surfaced after deadly clashes overnight between Israel and Hezbollah. Iran has made clear that all fighting must stop as part of the deal. The Islamic Revolutionary Guard Corps ordered all ships via radio to avoid the area, the German publication Bild reported Friday, citing unconfirmed reports.