Still, the U.S. stock market has set a run of records on hopes that the war will not keep oil prices high for very long. Companies are meanwhile producing bigger profits than analysts expected, while signals suggest the U.S. economy is holding up even though households are feeling discouraged by expensive gasoline and tariffs.

Oil is oozing through the ocean near Kharg Island in the Strait of Hormuz, according to satellite photos released Friday, raising questions about the state of Iran’s central energy production hub located there.