Oil climbs above $83 on fresh Strait of Hormuz supply fears
Oil prices advanced on Friday as concerns over potential supply disruptions intensified after Iran released a draft plan outlining new restrictions for vessels transiting the Strait of Hormuz.
August 07, 2026 (MLN): Oil prices advanced on Friday as concerns over potential supply disruptions intensified after Iran released a draft plan outlining new restrictions for vessels transiting the Strait of Hormuz. Currently, Brent crude futures is up, 1.44%, at $83.68 per barrel, according to data by Mettis Global. West Texas Intermediate (WTI) crude futures is up by $0.96, or 1.24%, to $78.25 per barrel by [10:55...