The initiative aims to get ships moving through the Persian Gulf and the Strait of Hormuz, where, under normal circumstances, just over a fifth of the world's oil passes.
US WTI crude oil prices rose more than 12 percent on Friday, exceeding $90 a barrel, as shipments in the Persian Gulf remained at a standstill due to the Iran war.
Some countries in the region have begun to reduce production because they cannot export their crude oil through the strait.
North Sea oil prices also rose during the day.
All in all, this has hit stock exchanges around the world hard.
