Global oil prices seesawed on Friday, as investors fretted about whether the widening war in the Middle East could throttle energy shipments from the region indefinitely.
Shipping traffic in the Strait of Hormuz, a critical choke point in the Persian Gulf, on Thursday fell to the lowest level in more than two months. The Iranian-backed Houthi militia group has threatened to blockade Saudi ships taking an alternate route in the Red Sea, forcing a number of vessels to reverse course.
