Oil rises nearly 1.5% after US warns ships near Iran

Oil drilling rigs

Oil prices rose at the close of trading today, Feb. 9, after the United States advised American-flagged ships to stay as far away as possible from Iranian territorial waters, bringing supply risks back to the forefront.

Brent crude futures for April delivery rose 1.45%, or 99 cents, to $69.04 a barrel. WTI crude oil futures for March delivery also rose by 1.27%, or 81 cents, to $64.36 a barrel.

The US Department of Transportation's Maritime Administration warned that ships passing through the Strait of Hormuz and the Gulf of Oman have historically faced the risk of being boarded by Iranian forces, noting recent incidents on Feb. 3.

The administration advised US-flagged vessels not to sail into Iranian territorial waters while sailing eastward through the Strait of Hormuz, raising fresh concerns that tensions between the US and Iran could lead to disruptions in oil supplies.