Crude oil futures traded higher on Friday morning after the US and Iran exchanged fire near the Strait of Hormuz.

At 9.18 am on Friday, July Brent oil futures were at $101.13, up by 1.07 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $95.59, up by 0.82 per cent. May crude oil futures were trading at ₹9032 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹9065, down by 0.36 per cent, and June futures were trading at ₹8721 against the previous close of ₹8769, down by 0.55 per cent.

In a post on X, the US Central Command said that US forces intercepted unprovoked Iranian attacks and responded with self-defence strikes as US Navy guided-missile destroyers transited the Strait of Hormuz to the Gulf of Oman on May 7.

It said that Iranian forces launched multiple missiles, drones and small boats as USS Truxtun, USS Rafael Peralta, and USS Mason transited the international sea passage. No US assets were struck.

US Central Command eliminated inbound threats and targeted Iranian military facilities responsible for attacking US forces, including missile and drone launch sites; command and control locations; and intelligence, surveillance and reconnaissance nodes.

US Central Command does not seek escalation but remains positioned and ready to protect American forces, it said.

In a post on the social media platform Truth Social, US President Donald Trump said: “Three World Class American Destroyers just transited, very successfully, out of the Strait of Hormuz, under fire. There was no damage done to the three Destroyers, but great damage done to the Iranian attackers. They were completely destroyed along with numerous small boats, which are being used to take the place of their fully decapitated Navy. These boats went to the bottom of the Sea, quickly and efficiently. Missiles were shot at our Destroyers, and were easily knocked down. Likewise, drones came, and were incinerated while in the air. They dropped ever so beautifully down to the Ocean, very much like a butterfly dropping to its grave! A normal Country would have allowed these Destroyers to pass, but Iran is not a normal Country. They are led by LUNATICS, and if they had the chance to use a Nuclear Weapon, they would do it, without question — But they’ll never have that opportunity and, just like we knocked them out again today, we’ll knock them out a lot harder, and a lot more violently, in the future, if they don’t get their Deal signed, FAST! Our three Destroyers, with their wonderful Crews, will now rejoin our Naval Blockade, which is truly a ‘Wall of Steel’.”

Meanwhile, Iran’s military said that the US attacked two ships entering the Strait of Hormuz and carried out strikes on Iranian territory.

Published on May 8, 2026