Oil prices touch six week high as Strait of Hormuz is 'completely closed'

Brent crude rose above $96 a barrel and WTI climbed past $88, hitting a six-week high.

Iran's Revolutionary Guards claimed the Strait of Hormuz is 'completely closed' and under their control.

Houthis announced a naval blockade of Saudi Arabia and threatened vessels carrying Saudi oil through the Bab el-Mandeb Strait.

US President Donald Trump said the US would destroy an Iranian bridge or power plant each time Iran targets a ship in the Strait of Hormuz.

Fresh attacks on oil tankers in the Red Sea, including a strike on the Saudi-flagged tanker Encelia, intensified supply concerns.