Oil rises on concerns over Strait of Hormuz reopening plans

Oil continued its rise on Friday amid further concerns around the opening of the Strait of Hormuz as Iran, working with Oman, ​suggested banning vessels deemed hostile from the strait and heavily fining those ‌who violated the proposed rules.

Aug 7, 2026 - 09:00
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Oil rises on concerns over Strait of Hormuz reopening plans
Oil continued its rise on Friday amid further concerns around the opening of the Strait of Hormuz as Iran, working with Oman, ​suggested banning vessels deemed hostile from the strait and heavily fining those ‌who violated the proposed rules.

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