Oil prices moved higher early Friday after U.S. officials said naval restrictions on Iranian ports could remain in place indefinitely, reviving concern over shipments through the Strait of Hormuz, a critical oil transit route. Brent futures rose 0.96% to $87.91 a barrel by 2:55 a.m. E.T., while U.S. West Texas Intermediate crude gained 1.08% to $82.13. The rebound followed a 2% drop in both benchmarks on Thursday, though both were still on track for weekly gains of around 4% after a sustained rally. The latest move came after U.S. Treasury Secretary Scott Bessent said measures aimed at the "economic isolation" of Iran would be unlike anything seen before, and U.S. Defense Secretary Pete Hegseth said U.S. forces could maintain an indefinite blockade of Iranian ports. Market concerns intensified after the United Arab Emirates said Iran attacked two vessels from the state-owned Abu Dhabi National Oil Company while they were transiting the strait. Thursday's retreat had followed Energy Secretary Chris Wright's claim that oil exports passing through the strait were higher than many independent estimates, while the International Energy Agency said Wednesday that global oil demand is expected to fall further than previously expected this year amid the ongoing squeeze around the strait.