Iran’s army targeted the Ahmad al-Jaber Air Base in Kuwait, Iranian media reported on Friday. As a result, oil prices have kept in the upper $80s per barrel in recent days amid concerns that the conflict would spread to other countries. Reports of more crude oil volumes managing to exit the Strait of Hormuz have kept prices below $90 per barrel. Crude oil prices have been trending lower over the past couple of days, but the two key benchmarks are on course to book both a weekly and a monthly rise. In a bearish development for oil prices, Saudi Arabia said it was seeking partners for a defense-strengthening coalition this week, to focus on the Ban el-Mandeb Strait and the Gulf of Aden.