CNBC Daily Open: Middle East tensions send oil higher while Iran-U.S. tensions escalate

The Ateela 2 Oil Tanker boat navigates the sea on April 28, 2026 on Qeshm Island, Iran in the Strait of Hormuz. Asghar Besharati | Getty ImagesHello, this is Justina Lee writing to you from Singapore, filling in for Leonie. News of recent deadly attacks on vessels in the Gulf of Oman and the Red Sea, and a worsening spill near Oman have renewed worries over supply disruptions, while tensions between Iran and the U.S. continue to escalate. Over in Asia, Japan's producer price growth in July missed analysts' expectations, while traders celebrate a technical bull market in South Korea's benchmark Kospi. What you need to know todayWorries over supply disruptions have sent oil prices higher, following news of recent deadly attacks on vessels in the Gulf of Oman and the Red Sea, and as a spill near Oman worsens.Escalating tensions between the U.S. and Iran are also a cause for concern. Despite President Donald Trump claiming repeatedly that Washington has "total control" over the Strait of Hormuz, Iran is pushing back his claims."The Strait of Hormuz remains blocked and will not be reopened until Iran's conditions are accepted," the Persian Gulf Strait Authority said in a post on X. Mean...