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North America

Iran's draft Hormuz plan would bar US and Israeli vessels, oil prices rise

Oil prices climbed after Iran circulated a draft plan that would ban US and Israeli vessels from the Strait of Hormuz, a chokepoint for roughly a fifth of global oil supply. Traders are watching for signs the restrictions could escalate tensions in the Gulf and disrupt tanker traffic. Iran's chief negotiator separately accused the US of pursuing what he called "theater diplomacy" as shipping through the strait nears a standstill.

CNBC Top News·2 h ago·USO

North America

Bessent says US-Iran deal to reopen Strait of Hormuz could land Tuesday or Wednesday

US Treasury Secretary Scott Bessent said Washington is in talks with Iran on a deal that would guarantee "freedom of movement" through the Strait of Hormuz, and that an announcement could come as soon as Tuesday or Wednesday. The comments follow warnings that the threat to oil tankers in the strait is now at its highest since the Iran war began. Oil prices fell on the news.

CNBC Top News·2 d ago·USO BNO